Consumer Awareness
ICSE · Class 9 · Economic Applications
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1. Meaning of Consumer Awareness
- Consumer awareness means knowing the quality, quantity, purity, price, expiry date, and other important details of goods and services.
- It also includes knowledge of consumer rights and the complaint or redressal system.
- A well-informed consumer can make better buying decisions and protect against unfair trade practices.
2. Ways in Which Consumers Are Exploited
- Underweight: false or underweight measures give less quantity than paid for.
- Substandard products: low-quality products are sold, sometimes at attractive prices.
- Higher prices: sellers may charge more than the prescribed retail price.
3. Reasons for Consumer Exploitation
- Limited information: consumers often do not get complete and reliable information about products.
- Shortage of goods: scarcity makes consumers vulnerable to unfair selling.
- Monopoly power: a few big producers or corporations may control the market.
4. Consumer Rights under COPRA
- COPRA spells out six consumer rights.
- The six rights are: right to safety, right to information, right to choice, right to be heard, right to redress, and right to consumer education.
- Right to safety protects consumers from hazardous goods and services.
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