Question

Explain the following terms in 2-3 lines:a. Consumerb. Consumer rightsc. Consumer responsibilitiesd. Consumer Protection Acte. Consumer problems

Answer 1

Answer:

Explanation:

Consumer:

Consumers are people or organisations that purchase products or services. Consumers play a very important  role in the economic system of a country. A consumer is someone who can make the decision whether or not to purchase an item at the store and also who can be influenced by marketing and advertisements.

Consumer rights:

Consumer rights educate the consumer to acquire knowledge and skills about the goods and services available in the market. They have the right to receive safety from hazardous goods.

Consumer responsibilities:

Consumer responsibilities helps a consumer to be aware of the goods and services along with its quality and safety, available in the marketplace before making any buying. It helps the consumers to think independently and make their own choice. The responsibility of the consumer also includes to speak out and complain for any goods and services which is deemed to be unfit and also take up the responsibility of making the environment pollution free.

Consumer Protection Act:

Consumer protection laws  is a series of law intended to protect consumers by regulating the affairs they engage in. The main objective of the law is to ensure a fair marketplace and ultimately protect the individual consumer in transaction.

Consumer problems:

Consumers are often victim of ignorance by big established industrialists.The problems which a consumer goes through include inadequate information, lack of information relating to new launches, product availability, price variation of the existing product, malpractices( hoarding and black marketing) etc.

Hope this helps.