6. Consumer Awareness
Consumer awareness entails understanding one's rights and responsibilities as a buyer, alongside knowledge about available products and services. This awareness aids consumers in making informed choices, protecting them from fraud, and encouraging fair trade practices. Key components include consumer rights, responsibilities, protection laws, and methods to address unfair trade practices.
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Sections
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What we have learnt
- Consumer awareness is crucial for making informed decisions regarding purchases.
- Consumers possess specific rights that safeguard them against unfair practices.
- There are established laws that protect consumer interests in the marketplace.
Key Concepts
- -- Consumer Awareness
- Understanding the rights and responsibilities of consumers, as well as knowing about products and services.
- -- Consumer Rights
- The entitlements consumers have regarding safety, information, choice, and redress among others.
- -- Consumer Responsibilities
- The duties consumers hold to make informed purchases and report unfair trade practices.
- -- Consumer Protection Act, 2019
- A legislation aimed at safeguarding consumer interests by providing legal rights and establishing consumer courts.
- -- Unfair Trade Practices
- Practices that deceive consumers, including false advertising, adulteration, and overpricing.
Additional Learning Materials
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