What does government do to enforce consumer-protection regulations?

Answer 1

The scales at which economies perform and the reach the players in a market have are been constantly challenged and consequently stretched. The complexity has been rising since the Industrial Revolution at a considerable speed. Such advances have made common law principle of Caveat Emptor obsolete in today's market condition.

Today's market is highly competitive, with huge product diversification. The large variety of goods and services on offer along with aggressive marketing strategies make the customer very vulnerable to exploitation and misrepresentation. The customer cannot be expected to forsee all the possible problems, implications, defects, etc. in the goods or services being offered.

Such circumstances have made it essential for the modern State to intervene and assure the welfare and protection of consumers.

Answer 2

Because without it they are subject to being ripped off by retailers, being sold faulty goods and being unable to change them, being sold things that are not what they were advertised as being. Without protection from these kinds of practices and many others a consumer is in a very bad position if they buy something from some irresponsible traders.

Answer 3

encourages critical thinking n helps consumers function more efficiently,promotes self confidence and independence,imparts life skills,improves quality of life,enhances citizen awareness,promotes stable society,satisfies customers,increases sales.

Answer 4

Capitalist claim that there is no need, as consumers will use their buying power to influence change. Market domination shows however that large companies set the standard for doing business, and commonly violate consumer rights.

For example: In California and Texas (at least 2 compensation states) it is unlawful to charge you for any warranty service to any product, including shipping charges to or from a repair facility; however companies normally do these things and claim ignorance of the laws.

Answer 5

There is a great importance of a consumer protection law. This ensures that consumer get quality products and services without being overcharged by the vendors.

Answer 6

Unfair trading practices of businessmen

Ignorance of consumers of their rights

Answer 7

Oversee production