NCERT Books Class 12 Business studies Chapter 12- Consumer Protection

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NCERT Books Class 12 Business studies Chapter 12- Consumer Protection is available here. You may find links to Class 12 Business Studies Notes, NCERT Solutions, Important Questions, Practice Papers, and more after each chapter. Scroll down for crucial study materials on the Consumer Protection from the NCERT Book Class 12 Business Studies Book.

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Table of Content-
Topics Covered
Starting of the Chapter
Glimpses of the Chapter
PDF Link
 

The Chapter 'Consumer Protection' explains the following-

• Introduction
• Importance of Consumer Protection
• The Consumer Protection Act 2019
• Who is a Consumer?
• Consumer Rights
• Consumer Responsibilities
• Ways and Means of Consumer Protection
• Redressal Agencies under Consumer Protection Act

 

'Consumer Protection' Goes Like The Following-

Introduction

Each one of us is a consumer in one way or another. It is important for us to be an aware and informed consumer of goods and services available to us in the market.The above case is just one of the examples of the many problems that consumers face in the purchase, use and consumption of goods and services. But, very few consumers are aware of their rights given to them by the Consumer Protection Act 2019. The Consumer Protection Act 20192019 has replaced the Act 1986 and seeks to widen its scope in addressing consumer concerns. 

Have you ever thought what would be the plight of consumers if adequate protection is not provided to them? With growing competition and in an attempt to increase their sales and market share, manufacturers, sellers and serviceproviders may be tempted to engage in unscrupulous, exploitative and unfair trade practices like defective and unsafe products, adulteration, false and misleading advertising, hoarding, black-marketing, etc. This means that a consumer might be exposed to risks due to unsafe products, might suffer from bad health due to adulterated food products, might be cheated because of misleading advertisements or sale of spurious products, might have to pay a higher price when sellers engage in overpricing, hoarding or black-marketing, etc. As a result, consumer becomes unsafe, feels cheated and is exposed to many risks and health problems. 

Can business afford to ignore the interests of consumers? The market forces have changed from a seller market i.e., the earlier approach of caveat emptor which means Let the buyer beware, to a consumer market i.e., caveat venditor which implies Let the seller beware. A consumer is said to be a KING in the free market economy. Hence, consumer protection has significance for both consumers and business alike. Under the Consumer Protection Act 2019, the Government of India has conferred a legal protection to safeguard interests of a consumer. 

Importance of Consumer Protection

The concept of consumer protection is to safeguard the interests of the consumers. It adopts measures to protect consumers from unethical malpractices by businesses and provide a swift redressal of their grievances with regard to:

1. Sale of adulterated goods such as adding inferior substances to the product being sold.
2. Sale of counterfeit goods such as selling a product of lesser value than the real product.
3. Sale of sub-standard goods such as the sale of products that do not meet the prescribed quality standards.
4. Sale of duplicate goods. 
5. Use of malfunctioning weights and measures that lead to underweight of products.
6. Black marketing and hoarding that eventually leads to scarcity of the product and well as a rise in the price of the same.
7. Overcharging a product, i.e., charging a product above its Maximum Retail Price.
8. Supplying of defective goods.
9. Advertisements that are misleading, i.e., advertisements that falsely claim a product or a service to be shown as superior quality, grade or standard when not in real.
10. Supply of inferior services, i.e., quality of service lesser than the condition agreed.

That is why we as an informed consumer have to wake up and save our self from various types of exploitation and should complain about it. Consumer protection has a wide scope. It not only includes educating consumers about their rights and responsibilities, but also helps in getting their grievances redressed. It not only requires a judicial machinery for protecting the interests of consumers but also requires the consumers to be united and form themselves into consumer associations
for protection and promotion of their interests.
 

Glimpses of the Chapter are-

 

NCERT Books Class 12 Business studies Chapter 12- Consumer Protection - PDF Download

Chapter 12- Consumer Protection
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