- published: 05 Dec 2012
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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. 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.
Other organizations that promote consumer protection include government organizations and self-regulating business organizations such as consumer protection agencies and organizations, the Federal Trade Commission, ombudsmen, Better Business Bureaus, etc.
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward. Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, and Robert Lucas, Jr..
Friedman's challenges to what he later called "naive Keynesian" theory began with his 1950s reinterpretation of the consumption function. In the 1960s, he became the main advocate opposing Keynesian government policies, and described his approach (along with mainstream economics) as using "Keynesian language and apparatus" yet rejecting its "initial" conclusions. He theorized that there existed a "natural" rate of unemployment, and argued that employment above this rate would cause inflation to accelerate. He argued that the Phillips curve was, in the long run, vertical at the "natural rate" and predicted what would come to be known as stagflation. Friedman promoted an alternative macroeconomic viewpoint known as "monetarism", and argued that a steady, small expansion of the money supply was the preferred policy. His ideas concerning monetary policy, taxation, privatization and deregulation influenced government policies, especially during the 1980s. His monetary theory influenced the Federal Reserve's response to the global financial crisis of 2007–08.
In this module, the learner will understand the concept of consumer protection, its importance in society, methodologies for the same and disputes redressal mechanism in brief. This is a product of Mexus Education Pvt. Ltd., an education innovations company based in Mumbai, India. http://www.mexuseducation.com, http://www.ikenstore.in
For the first time in INDIA, textbook in Economics, Accountancy & Business Studies with FREE Video Lectures by Eminent Authors/Subject Expert. To buy books visit www.goyal-books.com To view FREE Video Lectures visit www.goyalsOnline.com/commerce About the Book » Written strictly according to the latest syllabus prescribed by the CB.S.E., New Delhi. » Up-to-date study material provided by using the latest available data. » Elaborate explanation of the concepts. » Summary (Points to Remember) given at the end of each Chapter. » Numerical Problems from previous years' question papers incorporated and solved in the respective Chapters. » Methodology of solving typical numerical problems given wherever necessary. » Methodology of drawing typical diagrams given wherever necessary. » Comprehen...
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eSense TOPClass - Class 10 - Economics - Chapter 4 - Consumer Protection - Maharashtra Board
Hello, friends this is Lawyer Ujjawal Anand Sharma and in this video we gonna discuss the laws that every Indian consumer must Know and some of the case laws of Consumer Protection Act and Stocks in which you should invest. National Consumer Helpline number - 1800-11-4000 In general, the consumer rights in India are listed below-- 1.The right to be protected from all kind of hazardous goods and services 2.The right to be fully informed about the performance and quality of all goods and services 3.The right to free choice of goods and services 4.The right to be heard in all decision-making processes related to consumer interests 5.The right to seek redressal, whenever consumer rights have been infringed 6.The right to complete consumer education Laws Consumer protection act Consumer ...
Dr. Ashutosh Pitaliya Lecturer, BN Law College, Udaipur
This animation introduces the learner to consumer protection, legal framework for consumer protection in India and various ways and means of consumer protection. This is a product of Mexus Education Pvt. Ltd., an education innovations company based in Mumbai, India. http://www.mexuseducation.com, http://www.ikenstore.in
For the first time in INDIA, textbook in Economics, Accountancy & Business Studies with FREE Video Lectures by Eminent Authors/Subject Expert. To buy books visit www.goyal-books.com To view FREE Video Lectures visit www.goyalsOnline.com/commerce About the Book » Written strictly according to the latest syllabus prescribed by the CB.S.E., New Delhi. » Up-to-date study material provided by using the latest available data. » Elaborate explanation of the concepts. » Summary (Points to Remember) given at the end of each Chapter. » Numerical Problems from previous years' question papers incorporated and solved in the respective Chapters. » Methodology of solving typical numerical problems given wherever necessary. » Methodology of drawing typical diagrams given wherever necessary. » Comprehen...
The consumer market is fast changing because of the online world. No longer is it the norm to get in the car or catch the bus to go to the shops to buy your goods. No longer is it the norm to go up the road to the local shop to get the newspaper to search for a job. One can do these things and more online. The consumer landscape has changed markedly. So too has the consumer. In today’s online available world, the consumer is no longer just the adults. In fact the consumer can more often than not include children and especially young adults. With the rapid changes in the consumer marketplace, the demand and importantly the public expectation to provide consumer protection, places an increasing level of pressure on policy makers and enforcement agencies to be able to respond quickly ...
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Install your free app on iOS or Android: http://appgame.space/mapp/60/en/B007SYVBQS/game The Consumer Protection Act, 1986 is now available in a digitally readable format along with The Consumer Protection Rules, 1987, and Information on The Consumer Protection Act, 1986, on your Android Smartphone. Know everything you need to know about Consumer Protection This e-book application is one of its kind, a must have application useful for every Individual, Consumer's, Advocates, Law Students and others. This e-book application is prepared after considering the convenience of the readers thus, this e-book application is divided concisely into different Chapters and Sections. A dedicated key is added to navigate through next section. No matter where you are or where you go, this e-book applicati...
Topic: “Creating system of consumer protection: on the way to consensus” Oleksiy Kucherenko, NGO “Association of Residential Property Owners of Ukraine”, head of the Board, ex-Minister of Housing and Communal Services of Ukraine Taras Kachka, deputy executive director, International Renaissance Foundation Andriy Gerus, founder of Energy Consumers Association, ex-member of the National Commission for state regulation in the energy and utilities Tetyana Boyko, civil network “OPORA” coordinator for housing, communal services and energy programs Svitlana Golikova, member of KERI Strategic Council Moderator: Roman Vybranovskyy, director of UCMC Strategic Communications Project
Consumer Protection How the free market will replace a broken government ep#27, Consumer Protection How the free market will replace a broken government ep#27
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REASONS BEHIND ENACTING CONSUMER PROTECTION ACT