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Questions
Why are rules and regulations required in the marketplace? Illustrate with a few examples.
Describe the conditions in which markets do not work in a fair manner.
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Solution
- Rules and regulations are required in the marketplace to protect consumers.
- Sellers often abdicate responsibility for low-quality products, cheat by weighing out goods, add extra charges beyond the retail price, and sell adulterated/ defective goods.
- Hence, rules and regulations are needed to protect scattered buyers from a few powerful producers who monopolise markets.
- For example, a grocery shop owner might sell expired products and then blame the customer for not checking the expiry date before buying the items.
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Critically examine the progress of consumer movement in India.
Match the following:
| (i) Availing details in ingredients of a product | (a) Right to safety. |
| (ii) Agmark | (b) Dealing with consumer cases. |
| (iii) Accident due to faulty engine in a scooter | (c) Certification of edible oil and cereals. |
| (iv) District Consumer Court | (d) Agency that develops standards for goods and services. |
| (v) Consumers International | (e) Right to Information. |
| (vi) Bureau of Indian Standards | (f) Global-level institution of consumer welfare organisations. |
Say true or false:
India is one of the many countries in the world which has exclusive courts for consumer redressal.
Say true or false:
It is worthwhile to move to consumer courts only if the damages incurred are of high value.
Describe the importance of the 'Right to Information (RTI)' for consumers.
Analyze the importance of the three-tier judicial machinery under the Consumer Protection Act. (COPRA), 1986 for redressal of consumer disputes.
