Difference between consumer interest and public interest
Answers
Explanation:
Meaning The areas in which the consumers as a whole are benefitted is called consumer interest.
The areas in which the “society as a whole” has some interest is called public interest.
Members Consumer is a member of a broad class of people who purchase, use, maintain & dispose of product & services.
Society is a collection of subsystems, e.g. consumers, manufacturers, distributors, input suppliers, service providers, etc.
Factors Consumers are affected by pricing policies, financing practices, quality of goods & services and various trade practices.
Public interest reflects the morals during period & also the established interest of the society.
Scope Consumer interest is restricted in scope as it is only a sub-system of a larger system i.e. general public/society.
Public interest is wider in scope in comparison to consumer interest
Examples
Formulation of Competition Act, Regulation of Consumer Protection Councils, Consumer Courts etc.
Maintenance of Law & Order, Providing for Defence of the country etc