Consumer protection

Consumer Protection:

Consumer protection is a group of laws and organizations designed to ensure the rights of consumers as well as fair trade, competition and accurate information in the marketplace. The laws are designed to prevent businesses that engage in fraud or specified unfair practices from gaining an advantage over competitors. They may also provide additional protection for those most vulnerable in society. Consumer protection laws are a form of government regulation, which aim to protect the rights of consumers.

the goal of Consumer protection:

The goal of consumer protection laws is to place consumers, who are average citizens engaging in business deals such as buying goods or borrowing money, on an even par with companies or citizens who regularly engage in business.

For example, a government may require businesses to disclose detailed information about products particularly in areas where safety or public health is an issue, such as food. Consumer protection is linked to the idea of consumer rights, and to the formation of consumer organizations, which help consumers make better choices in the marketplace and get help with consumer complaints.

Historically, consumer transactions purchases of goods or services for personal, family, or household use were presumed fair because it was assumed that buyers and sellers bargained from equal positions. Starting in the 1960s, legislatures began to respond to complaints by consumer advocates that consumers were inherently disadvantaged, particularly when bargaining with large corporations and industries.

Basic consumer rights:

In order to safeguard consumer interest, eight consumer rights are defined by UN Consumer Bill of Rights:

1. Right to Safety - safeguarding against goods that are hazardous to life and property.

2. Right to Information - consumers have the right to be informed regarding the price, quality, quantity, etc., of the products they buy.

3.    Right to Choice - consumers should be provided with a wide variety of goods to choose from.

4. Right to be heard - the right of consumers to have their complaints heard.

5. Right to Satisfaction of Basic Needs - this right demands that people have access to basic, essential goods and services: adequate food, clothing, shelter, health care, education, public utilities, water, and sanitation.

 6. Right to redress - consumers have the right to seek redress regarding their complaints.

 7. Right to Consumer Education - the right of consumers to be educated about their rights.

 8.  Right to a Healthy Environment - this is the right to live and work in an environment that is non-threatening to the well-being of present and future generations.