Consumer Rights Meaning And Kinds Tutor S Tips Importance of consumer protection from businessmen’s side: a) in the race of compition a businessmen can win and capture the wide market share by satisfying the customers. the businessmen who ignores the customer prefrances can lose their custmers and reputation also. so this is the interest of the business itself to keep its customers satisfied. Factors affecting pricing: according to the market conditions and other circumstances the company has to think about the important factors which are as under: 1. cost of the product: the important factor affecting the valuation is, the product cost. it will be inclusive of the cost of production, selling and promotion costs, distribution costs.
Lesson 2 2 Consumer Rights And Responsibilities Lesson It refers to the economy in which the economic activities relating to production, consumption, investment, or exchange are controlled by the market forces such as demand and supply. in such economies, the degree of control by the government or any authority is very low or notional. the countries like the usa and uk have such economies. Consumer rights can be defined as the right to safety, the right to be informed, the right to choose, and the right to be heard. these rights were meant to ensure consumers' fair treatment and. An example is john f kennedy's consumer bill of rights in 1962, which is the landmark legislation in this area and defines the four fundamental principles and rights of the consumer: 1 the right of consumers to be protected from defective goods and services and unscrupulous or illegal traders. 2 the right of consumers to be informed about what they are buying, the price, quality, contents, and. Under the consumer protection act, when you order a product, it must be delivered within 30 days of the promised delivery date or you can ask for a refund. however, if you choose to keep the item that was delivered late, you lose your right to get a refund for it. you also can’t be charged for receiving an item or service that you did not.
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