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What are various ways in which the objective of consumer protection can be achieved? - Business Studies

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What are various ways in which the objective of consumer protection can be achieved?

Write four methods by which the objectives of consumer protection can be achieved.

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Solution

Other than consumer awareness, there are multiple ways by which consumers can be protected.

  1. Consumer awareness: A Consumer needs to be aware of his rights and responsibilities and he should take action against the wrongdoing of sellers, governments and many other organisations that are working to make more and more consumers aware of their rights.
  2. self-regulation by business: It is in the interest of the business to serve the customers better to retain them for the long term and increase profitability. Many companies have set up their own redressal mechanisms to help consumers, and they follow their standard procedures to do business ethically.
  3. Business Association: The Association and business federations like FICCI and CII have set up a code of conduct and laid down guidelines for their members for dealing with customers.
  4. Consumer organisations: Consumer organisations and various NGOs are working for consumer protection. They provide information about consumer rights, organise seminars, and help the consumer to approach redressal mechanisms in legal ways; on behalf of the general public, they also file cases in consumer courts.
  5. Government: The government protects the interests of the customer by taking various measures. For example, the GOI has set up a toll-free national consumer Helpline Number 1800114000 for this purpose. Under the consumer protection act, the government has also set up the redressal mechanism at the district state, and national levels to protect the consumers.
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Chapter 15: Consumer Protection - EXERCISES [Page 472]

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C. B. Gupta Commerce Volume 2 [English] Class 12 ISC
Chapter 15 Consumer Protection
EXERCISES | Q 9. | Page 472
C. B. Gupta Commerce Volume 2 [English] Class 12 ISC
Chapter 15 Consumer Protection
QUESTION BANK | Q Q. 11. | Page 476

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