Explain the importance of consumer protection.

1.	Explain the importance of consumer protection.
Answer» 1. Ignorance of consumers: Most of the consumer are ignorant and are not aware of their rights, hence a proper system is required to protect them against unfair trade practices. 2. Unorganized consumer: Consumer are not well organized, but producers and traders are well organized. As a result consumers are being exploited by the big business houses. 3. Deceptive advertising: Many business organizations deliberately cheat consumers through misleading advertisements about Quality, safety and utility of the products. 4. Malpractices of Businessmen: Businessmen indulge in malpractice such as adulteration and black marketing etc to maximize profit therefore consumers are exploited. 5. Freedom of Enterprise: For the survival and growth of business in the long run the business must ensure customer satisfaction so as to earn goodwill and support of consumer.

Answer»

1. Ignorance of consumers: Most of the consumer are ignorant and are not aware of their rights, hence a proper system is required to protect them against unfair trade practices.

2. Unorganized consumer: Consumer are not well organized, but producers and traders are well organized. As a result consumers are being exploited by the big business houses.

3. Deceptive advertising: Many business organizations deliberately cheat consumers through misleading advertisements about Quality, safety and utility of the products.

4. Malpractices of Businessmen: Businessmen indulge in malpractice such as adulteration and black marketing etc to maximize profit therefore consumers are exploited.

5. Freedom of Enterprise: For the survival and growth of business in the long run the business must ensure customer satisfaction so as to earn goodwill and support of consumer.

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