Consumer Awareness
ICSE · Class 9 · Economic Applications
Summary of Consumer Awareness for ICSE Class 9 Economic Applications. Key concepts, important points, and chapter overview.
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Consumer awareness means making consumers aware of the relevant characteristics of the products and services being purchased. A consumer is a person who buys goods or hires any service for personal use or for the use of family members by making a payment for it. In a market-oriented economy, produce
Key Concepts
A consumer is a person who
A consumer is a person who buys goods or hires any service for personal use or for the use of family members by making a payment for it.
Consumer awareness means making consumers aware
Consumer awareness means making consumers aware of product and service qualities such as price, quality, brand, quantity, date of manufacture, expiry
Consumers are exploited through underweight goods
Consumers are exploited through underweight goods, substandard products, higher prices, lack of safety regulations, adulteration, duplicate products,
Consumers are exploited because of limited
Consumers are exploited because of limited information, shortage of goods, monopoly power, lack of awareness, and illiteracy.
COPRA spells out six rights
COPRA spells out six rights: right to safety, right to information, right to choice, right to be heard, right to redress, and right to consumer educat
Learning Objectives
- Understand the meaning of consumer and consumer awareness
- Identify common ways in which consumers are exploited in the market
- Recognise the main reasons behind consumer exploitation
- Learn the six consumer rights under COPRA
- Understand the role of consumer courts and consumer protection laws
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