consumer awareness amongst households
through collection of primary data by designing
questionnaire... conclusion for economic project
Answers
1.1 Rise Of Consumer Awareness
In the globalization, liberalization and privatization era, most of the economic decisions are taken by the market. Though the government has withdrawn itself from many economic activities, it interferes very often when the market mechanism fails due to structural rigidities in the economy and other factors, to provide goods and services to the people.
Consumption is one of the important economic activities, which requires regular government intervention, as the market is unable to promote security and welfare aspects of the consumers. On the other hand, consumers have to be aware not only of the commercial aspects of sale and purchase of goods but also of the health and security aspect also. Besides this, they should be aware of their rights and duties being as rational human beings.
Though the first consumer movement began in England after the Second World War, a modern declaration about the consumer’s rights was first made in the USA in the year 1962, where four basic consumer rights i.e. Choice, information, safety and right to be heard were recognized.
Ralph Nadar, a consumer activist is considered as the father of “Consumer Movement”. 15th March is now celebrated as the World Consumer Rights Day. The U.N.O. Also adopted in the year 1985, certain guidelines to achieve the objectives of maintaining protection for consumers and to establish a high-level of ethical conduct for those engaged in the production and distribution of goods and services. In India, 24th December is celebrated as “Consumer’s Day” every year.