Payday Loans: Case Study
Essentials of entrepreneurship which seems important for this case comprises of consumer sovereignty and profits.
The application of fundamentals of profit in this situation is on the basis that the short term loan advancing companies like payday industry make huge revenue annually, which means billion dollars across number of branches in any given country. Numerous customers see the substantial earnings to be unethical which these organizations are making off from small loans; on the other hand generating profits seems to be the principle objective in today’s competitive economy for any businesses.
The next applicable fundamental of capitalism is consumer power or sovereignty. (Pettinger, 2008) “The ability and freedom of consumers to choose from a range of different goods and services”. However, even after possessing the power, …show more content…
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