Question: Why is consumer protection important for consumers?

Why is consumer protection important?

Consumer protection makes markets work for both businesses and consumers. Consumers need to be able to obtain accurate, unbiased information about the products and services they purchase. This enables them to make the best choices based on their interests and prevents them from being mistreated or misled by businesses.

What is meant by consumer protection?

Consumer protection means safeguarding the interest and rights of consumers. In other words, it refers to the measures adopted for the protection of consumers from unscrupulous and unethical malpractices by the business and to provide them speedy redressal of their grievances.

What is the need for consumer protection act?

According to the Preamble, “The Consumer Protection Act, 1989, is to provide for better protection of the interest of consumers and for that purpose to make provision for the establishment of consumer councils and other authorities for the settlement of consumer disputes and for matters connected therewith”.

How can we protect consumers?

Consumer Rights

  1. Right to safety. Means right to be protected against the marketing of goods and services, which are hazardous to life and property. …
  2. Right to choose. …
  3. Right to be informed. …
  4. Right to consumer education. …
  5. Right to be heard. …
  6. Right to Seek redressal. …
  7. Consumer Protection Act. …
  8. Ask Yourself!
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How does the Consumer Protection Act affect businesses?

The Consumer Protection Act (1987)

It makes businesses that produce, rather than just sell, liable for any damage caused by poor quality or defective products. … It gives anybody the right to claim against the producer of a product for any damage caused by a manufacturing defect.

What are examples of consumer protection?

Consumer Rights

  • Right to value for money: Products and services MUST give value for money.
  • Right to Safety: Protection from hazardous products, services, and production processes.
  • Right to Information: …
  • Right to Choose: …
  • Right to Redress: …
  • Right to Consumer Education: …
  • Right to Representation: