Question

Q.2 what is the concept of management control? also discuss the scope and importance of implementing adequate management control

Answer 1

Quality of products consumed by people depends on their income and income itself depends on the market value of an individual's work. In a free market economy there is a limited role for the government, indeed in a pure free market system, the government limits itself to protecting property rights of people and businesses using the legal system and protecting the value of money or the value of a currency.