Discuss in brief the basics concepts of consumer education and protection.
Answers
Answer:
Explanation:
Consumer Education
Consumer education is a powerful tool which prepares the consumer of making informed decisions while buying products. It generally includes different consumer goods and services, along with its prices, expectation of the consumer, etc. It helps in protecting the consumer right from established companies that sell their goods and services.
Consumer Protection
Consumer protection is a set of laws and organisations which is drafted to protect the rights of consumers which includes fair trade, accurate information and competition in the market. The laws are drafted in such a manner that it discourages the businesses to engage in fraud or misleading practices to gain over competitors. These laws also take care of the section of the society which is most vulnerable .
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