Topics
Principles of Management
- Concept of Management Principles
- Nature of Management Principles
- Significance of Management Principles
- Theories of Management
- Henry Fayol's Administrative Theory of Management
- Taylor's Scientific Management Theory
- Emerging Trends in Management
Functions of Management
- Functions of Management
- Planning
- Organising
- Staffing
- Directing
- Co-ordinating
- Controlling
- Comparative Study of Management Functions
Entrepreneurship Development
- Concept of Entrepreneur
- Entrepreneurship Development
- Process of Entrepreneurship Development
- Recent Initiatives in Entrepreneurship Development
- Start up India
- Stand-up India
- Agro Tourism (Rural Tourism)
- Women Entrepreneurship Platform (WEP)
- Concept of Intrapreneurs
- Employees' Contribution to Innovation
Business Services
- Concept of Service
- Business Services
- Types of Business Services
- Banking
- Banking > Functions of Commercial Bank
- Types of Insurance
- Insurance
- Transport
- Modes of Transport
- Types of Transport > Roadways
- Types of Transport > Railways
- Air Transport
- Communication
- Warehousing
- Types of Communication
- Postal Service
- Modern Means of Communication
- Comparative Study of Business Services
- Comparative Study of Business Services
Emerging Modes of Business
- Concept of E-business
- Online Transactions
- Buying and Selling Process
- Concept of Outsourcing
- Forms of Outsourcing
- Business Process Outsourcing (BPO)
- Knowledge Process Outsourcing (KPO)
- Legal Process Outsourcing (LPO)
- Comparative Study of E-Business
Social Responsibilities of Business
- Concept of Social Responsibility
- Responsibilities Towards Different Interest Groups
- Social Responsibility Towards Protection of Environment
- Business Ethics
- Corporate Social Responsibility
Consumer Protection
Marketing
- Concept of Marketing
- Concept of Market
- Types of Market
- Importance of Marketing
- Functions of Marketing
- Concept of Marketing Mix
Estimated time: 8 minutes
CBSE: Class 12
Introduction
- All of us are consumers in our daily life.
- We should be aware and careful while buying and using goods and services.
- The given case is only one example of many consumer problems in the market.
- Very few consumers know their rights under the Consumer Protection Act 2019.
- This Act has replaced the 1986 Act and gives wider help to consumers.
CBSE: Class 12
Problems Faced by Consumers
- Companies may follow unfair practices to increase sales and market share.
- Examples: defective or unsafe products, adulteration, false or misleading ads, hoarding, black‑marketing.
- Consumers may face health issues, safety risks, cheating and high prices because of these practices.
- So, consumers feel unsafe and cheated.
CBSE: Class 12
Changing Market Approach
- Earlier, it was a seller’s market based on caveat emptor – “Let the buyer beware.”
- Now, it is a consumer‑oriented market based on caveat venditor – “Let the seller beware.”
- In a free market economy, the consumer is called the “KING.”
CBSE: Class 12
Importance of Consumer Protection
- Without proper protection, consumers would suffer a lot in the market.
- Consumer protection is important for both consumers and business.
- Business cannot ignore consumers in today’s consumer market.
CBSE: Class 12
Key Points: Concept of Consumer Protection
- Every person is a consumer, so awareness is necessary.
- Consumers face issues like unsafe goods, adulteration, misleading ads, hoarding and black‑marketing.
- Consumer Protection Act 2019 replaced the 1986 Act and gives wider protection.
- Market focus has moved from buyer beware to seller beware.
- Consumer protection helps both consumers and business and is supported by law.
