Home › CBSE Class 11 (Commerce) › Business Studies › Social Responsibility of Business and Business Ethics › Which principle has replaced caveat emptor in mo…
Which principle has replaced caveat emptor in modern markets?
ASurvival of the fittest
BHire and fire policy
CProfit above all
DThe customer is king
Answer & Solution
Correct answer: D. The customer is king
Growing consumer consciousness replaced 'let the buyer beware' with the principle that the customer is king.
Related questions
Audits and reporting systems for unethical acts areWhich element of business ethics requires the CEO to openly back ethical conduct?A written document laying down an organisation's ethical rules is calledWhich is an example of business ethics?The word 'ethics' is traced to a Greek word meaningThe Wildlife Protection Act was enacted in which year?Which law of 1986 protects the environment?Which is a business step for environmental protection?