Consumer Awareness — Flashcards

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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. A student buying a notebook, or a family paying for a bus ride,…

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Consumer awareness means making consumers aware of the relevant characteristics of the products and services being purchased by them. It includes knowledge of quality, price, quantity, brand, safety, …

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In a market-oriented economy, producers aim to maximise profit and decide what goods and services are made and how they are sold. This can make consumers vulnerable to misleading advertisements, unfai…

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Misleading advertisements often hide important facts and create false trust. They may make products look better than they really are, so consumers may buy items without knowing the real quality, quant…

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Underweight means consumers do not get the correct quantity of goods because false or underweight weights are used. This often happens with vegetables and fruits.

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Substandard products are low-quality goods made below the expected standard. Consumers may be attracted by low prices, but such products may not last long or may not work properly.

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Overpricing happens when sellers charge more than the proper retail price. This can happen by adding extra charges such as local taxes or transport cost, or simply by charging an unfair price.

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Adulteration is the act of intentionally lowering the quality of a product by mixing inferior substances or removing valuable ingredients. It is common in food items and can harm health.