shama scintillating wonderful

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ECONOMIC S

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Transcript of shama scintillating wonderful

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ECONOMICS

PROJECT

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ACKNOWLEDGEMENT

WE WOULD LIKE TO EXPRESS OUR SINCERE GRATITUDE

TOWARDS OUR SOCIAL STUDIES TEACHERS FOR THEIR UNSTINTED

SUPPORT.BIBILOGRAPHY

WIKIPEDIAGOOGLE

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CONSUMERConsumer is defined as someone who

acquires goods or services for direct use or ownership rather than for resale or use in

production and manufacturing.Even though strong and clear laws exist in India to protect consumer rights, the

actual plight of Indian consumers could be declared as completely dismal. Very few consumers are aware of their rights or

understand their basic consumer rights.

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CONSUMER PROTECTION LAWS

Consumer protection laws are designed to ensure fair trade competition and the free flow of truthful

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 and may

provide additional protection for the weak and those unable to take care of themselves. Consumer

Protection laws are a form of government regulation which aim to protect the interests of consumers

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CONSUMER PROTECTION ACT ,1986

Under this law, everyone, including individuals, an undivided family, a firm,

and a company, can exercise their consumer rights for the goods and

services purchased by them. It is important that, as consumers, we know at least our basic rights and

about the courts and procedures that deal with the infringement of our rights.

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BASIC CONSUMER RIGHTS

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RIGHT TO SAFETY

This consumer right is defined as the ‘right to be protected against

marketing of goods and services which are hazardous to life and property’. Specifically significant in areas such as healthcare, food processing and pharmaceuticals, this right spans

across any domain that could have a serious impact on the consumers’

health

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RIGHT TO INFORMATION

This consumer right is defined as the ‘the right to be informed about the quality, quantity, potency, purity, standard and price of goods or services, as

the case may be so as to protect the consumer against unfair trade practices’

This right should ideally ensure that all consumable products are labeled in a standard

manner which contains the cost, the ingredients, quantity, and instructions on how to safely consume

the product.

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RIGHT TO CHOOSE

It is defined as ‘the right to be assured, wherever possible, to have

access to a variety of goods and services at competitive prices’.

Competition, invariably, is the best regulator of a market place. Existence of oligopolies, cartels and monopolies are counterproductive to consumerism

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RIGHT TO BE HEARD

‘The right to be heard and to be assured that consumer's interests will receive due consideration at

appropriate forums’ is referred to as the right to be heard.

This right is supposed to empower Indian consumers to fearlessly voice

their complaints and concerns against products and companies

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RIGHT TO CONSUMER EDUCATION

The right of each Indian citizen to be educated on matters related to

consumer protection and about his/her rights

This right simply ensures that the consumers in India have access to

informational programs and materials that would enable them to make better

purchasing decisions

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COMPLAINT FOR INFRINGEMENT

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A complaint for infringement of consumer rights could be made under the following circumstances in

the nearest designated consumer court:The goods or services bought by a person or agreed to be bought by a person suffer from one or more

deficiencies or defects in any respectA trader or a service provider resorting to restrictive

or unfair trade practicesA trader or a service provider charging a price in

excess of the price displayed on the goods or the price that had been agreed upon between the parties or the price that had been stipulated under any law in

forceGoods or services that pose a hazard to the safety and life of a person offered for sale, knowingly or

unknowingly, causing injury to health, safety or life.

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MEMBERSMEENAKSHI MENON

FREYAVIDYA VANJITHA

SREE LAKSHMISUKANYAGLADSY

GOPIKA K R