Consumer awareness - Economics std 10 NIOS

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Consumer Awareness NIOS std X economics

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  • slide no 25 there is a correction please note: 'STATE COURT THE VALUE SHOULD BE UPTO 1 CRORE not 20 CRORE
    and NATIONAL COURT THE VALUE SHOULD BE MORE THAN 1 CRORE '
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Consumer awareness - Economics std 10 NIOS

  1. 1. CONSUMER AWARENESS
  2. 2. Consumer awareness Refers to the following – 1) Knowledge of the product in terms of price, quality etc. .
  3. 3. 2) Knowledge about any problem associated with marketing of the product. Example – misleading advertisement.
  4. 4. • 3)Knowledge about how to lodge a complaint and claim compensation if the product is faulty.
  5. 5. 4) Knowledge about consumer’s own responsibility to buy and use only what is necessary and avoid wasteful consumption
  6. 6. NEED FOR CONSUMER AWARENESS 1) The market is flooded with a wide variety of goods and services and it is very difficult to know which one is a duplicate.
  7. 7. • 2) Because of advanced technology, distance between buyer and seller has increased, hence a buyer decides what to buy based on the advertisements which can be misleading.
  8. 8. • 3) Information about date of packaging/ expiry date in the case of certain products becomes important hence the consumer should be aware.
  9. 9. • 4) Producers have their unions and associations to protect their interests, but consumers don’t, hence consumers should be aware of their rights
  10. 10. • 1) VAT is value added tax to be paid by the seller. • 2) It is a tax placed on a product whenever value is added at any stage of production and at final sale. • 3) Once this is levied, price of the commodity will increase because seller has to cover his cost.
  11. 11. • Consumer must ask for a bill because – • 1) Government loses tax revenue when consumer does not take a bill. • 2) In case of a faulty product, consumer will not be able to claim compensation if there is no bill.
  12. 12. Consumer redressal system Consumer redressal system helps a consumer to file a complaint in a consumer court if cheated by the seller or producer. It consists of two parts – 1) Government Laws a)Consumer Protection Act (CPA)
  13. 13. b)Prevention of Food Adulteration Act (PFA)
  14. 14. c) Essential Commodities Act (ECA)
  15. 15. d)Standard of Weights and Measures Act (SWMA)
  16. 16. 2) Institutions to deal with Consumer Complaints a) Government Councils 1. Central Consumer Protection Council 2. State Consumer Protection Council. b) Consumer Courts 1. National Consumer Courts 2. State Consumer Courts 3. District Consumer Courts
  17. 17. 1) Right to information – The producer should provide information about the product like price, weight, expiry date etc. 2) Right to choose – The consumer can choose what to buy and what not to buy.
  18. 18. 3) Right to safety – The consumer should be protected from unsafe goods, like adulteration in food.
  19. 19. 4) Right to be heard – The consumer have the right to complain against defective products or services.
  20. 20. 5) Right to seek redressal – The consumer has the right to get justice in the form of compensation if they are cheated.
  21. 21. 6) Right to consumer education – The consumer should be educated about instuctions to be followed before taking the decision to buy. Example – trademarks such as ISI, AGMARK etc on some products.
  22. 22. • 1. Gives Support and Guidance to consumers to fight for their rights. • 2. Main objective – to give cheap, simple and quick justice to consumers. – Consumers can decide where they want to file a case. – The company which has cheated cannot insist ona particular court. – Consumers can sue any company if they pass on their personal information. – Real estate developers can also be tried in consumer courts.
  23. 23. 1. The consumer must have the cash memo 2. Nature of complaint has to be mentioned 3. Complain must be made within 2 years of date of defect.

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