Question

Explain the role of business in consumer protection.

Answer 1

Business enterprises should do the following towards protecting consumers.

1. Avoidance of Price Hike: Business enterprises should desist from hiking the price in the context of an acute shortage of goods.
2. Avoidance of Hoarding: Business enterprises should not indulge in hoarding and black marketing to earn maximum profit.
3. Guarantees for Good Quality: Business enterprises should not give false warranty for the products.
4. Product Information: Business enterprises should disclose correct, complete, and accurate information about the product viz. size, quality, quantity, weight, etc.
5. The in advertising: Business enterprises should not convey false, untrue, bogus information relating to the product through the advertisement.
6. Money Refund Guarantee: Where the product becomes defective, business enterprises should replace it with a new one or refund the purchase price.