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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.
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.
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.
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.
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.
Unfair trading practices of businessmen
Ignorance of consumers of their rights
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What does Consumer-protection regulations not involve?
Government censorship
Is federal communications commission a government corparation?
The FCC is a US government agency under the Department of Commerce. FCC employees are employees of the federal government, and its regulations are enforceable federal laws. It's not a corporation.
What is one thing the government does as it enforces consumer-protection regulations apex econ?
tests products such as drugs and automobiles for safety - apex
What are two types of health and safety regulations?
Two types of health and safety regulations are specification regulations, which say what precisely must be done, and performance regulations, which say what must be accomplished.
Who has the greatest responsibility in disposing e-waste?
Government is ultimately responsible for enforcement through mandatory regulations that serve the purpose of controlling and monitoring, setting goals, and establishing enforcement rules.
Is not necessary for the enforcement of consumerprotection regulations?
Censorship
What is one thing the government must do to enforce consumers protection regulations?
Test new products for safety and effectiveness.
What is one thing the government must do to enforce consume-protection regulations?
Test new products for safety and effectiveness.
Does the WTO Enforce banking regulations?
we wish they also enforce in Pakistan
Is the US run by a lawful federal government or international government?
All sovereign countries are ruled internally. The US is no different.Many countries abide by some international rules but there is no edict to enforce such regulations. Nor can such regulations be enforced on a free country.
Give you a sentence using word authority?
The government has the authority to enforce laws and regulations to maintain order in society.
What does the government have to do to enforce consumer protection regulations?
oversee production test products such as drugs and automobiles for safety (APEX)
How does the epa accomplish its mission?
they develop and enforce regulations
What are government regulations?
they are government regulations
What are not the responsibilities of the World Trade Organization?
enforce banking regulations
Can a company introduce a policy that is differs from the law and then enforce it with discipline if the policy is not followed?
As long as a policy is not contrary to the provisions of law or government regulations, a company can introduce and enforce any policy it wants within the limits of its employment and union contracts.
Why did treatment of Cherokee get worse after the Supreme Court declared Georgias Indians removal laws to be unconstitutional?
The federal government did not enforce the court's decision.
