Consumer protection is important for protecting consumers and instilling confidence in different institutions within the country.
Consumer Right is the right to have detailed information about the quality, quantity, price, purity, and standard of products and services. The Australian Consumer Law contains a range of protections to help ensure that the products you buy are safe. Consumers play an … Now let‘s discuss importance and need of consumer protection one by one. The industrial revolution and a shift of population from rural areas to towns and anonymity of urban living […]
Consumer protection was not necessary when the world was younger and communities smaller. A newly created, separate government agency is … Protection from Exploitation . ADVERTISEMENTS: In order to maximise profits, many businessmen exploit consumers by supplying poor quality goods at higher prices. Learn more. You can get help if you’re treated unfairly or when things go wrong.
Identifying a genuine business Consumers often ask us how they can check if the business or trader they are dealing with is legitimate or genuine. As a result consumers do not get value for their money. They adopt unfair trade practices such as adulteration, boarding, black-marketing, etc. Consumer protection legislation is meant to protect us against these types of issues. Consumer protection is important for protecting consumers and instilling confidence in different institutions within the country. ADVERTISEMENTS: In this essay we will discuss about the need for consumer protection. In the absence of consumer protection, consumers were exploited in many ways e.g. The laws are able to guarantee safety and quality of the products and services consumers use. In the lifestyle of those times unfair trade was almost impossible. They need to be protected from the unjust and unethical practices of the producers and traders. Importance of the consumer protection is to safeguard the consumer from exploitation. So as a customer, it is required to have proper knowledge of the consumer rights and protection. This helps in protecting consumer from wrong practices of business. Article Shared By. The FTC’s Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting complaints and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights and responsibilities.
The law protects your consumer rights when you buy goods or services. Strengthening the consumer-protection mandate of these agencies is the best and most effective way to strengthen consumer protection. Consumers . That is why it's important to familiarize ourselves with the more common consumer protection laws. consumer protection definition: 1. the protection of buyers of goods and services against low quality or dangerous products and…. Big business houses use their power for private gain and … Find out who to contact for consumer protection advice. 1. The laws are able to guarantee safety and quality of the products and services consumers use. Consumer Protection is important as consumers’ interests need to be safeguarded. Consumer protection makes markets work for both businesses and consumers. Why do we need for consumer protection? Why Do People Need Consumer Protection? NEED FOR CONSUMER PROTECTION AND CONSUMER RIGHTS. Consumers need to be able to obtain accurate, unbiased information about the … Consumers need protection against the following: unsafe and harmful products, unfair trade practices, false advertising, abuse of monopoly power and environmental pollution. They are informed and ununited individuals who are often exploited by sellers.