Save
Markets - Booklet 2
consumer protection
Save
Share
Learn
Content
Leaderboard
Share
Learn
Created by
jia
Visit profile
Cards (22)
reasons for consumer protection
profit
motive
unsafe
products
false
information
globalisation
online buying
can be
misleading
description
of
goods
scientific advancements
pressurized sales
techniques
legislations around consumer protection
safe
&
supply
of
goods
act
competition policy
environment protection
trade description act
customer credit act
consumer protection
data protection
consumer protection from unfair trading
what is
legislation
laws
passed
down from
UK parliament
affecting
buisnesses
what does
consumer protection
do
give consumer
confidence
to
purchase
what does Trading Standards Department do
check if local businesses are complying within
various trading laws
ensure goods are accurately
described
, properly
priced
, and sold in
correct
quantities.
What does CMA do
Competition and Markets Authority
investigate businesses who restrict fair competition in market
Safe & Supply of goods Act
goods
purchased
online
must be:
acceptable
quality
zero
defects
fit
for
purpose
Environmental Protection
protect
environment
by
lessening
the
impact
businesses
have on it
Customer credit act
controls
the way
businesses lending money operate
Customer Protection Act
states
that
businesses
must
act fairly
towards
consumer
Consumer Protection from
unfair trading
must
not
engage
in
unfair
business
activities
such as:
aggressive
sales
techniques (harassment)
false/
misleading
information
Trade Description Act
products must:
perform
in the
way
advertised
not
have
false
info
Data Protection Act
businesses must not
sell
consumer
details
to other businesses
without
consumer
consent
Competition policy
make sure that
competition
is
fair
in all
markets
Profit motive
owners may get
overwhelmed
with drive to make
profit
and:
overcharge
for
unsatisfactory
products
not fit for purpose
products
Unsafe products
businesses aim to
reduce
costs
so this may lead to
products
with
defects
or being
lower
quality
Misleading
online buying
7 day
cooling periods
are used so that
customers
can
cancel
contracts
Description of goods
goods description
may
not
match
their description
online
Globalisation
products
being brought from
abroad
may not meet the
standards
of
safety
required
by
UK
Scientific advancements
newly
developed
products have to go through thorough
testing
before being
sold
to consumers
Pressurized sales technique
pressured to agree to purchase products consumers don't want or need
aggressive sales techniques used - customers are exploited
Unfair advertising/false info
in order to increase sales businesses may put out
misleading information
See similar decks
5.3.1 Consumer Protection
Edexcel GCSE Economics > 5. Personal Economics > 5.3 Consumer Rights and Responsibilities
49 cards
5.3.1 Consumer Protection
Edexcel GCSE Economics > 5. Personal Economics > 5.3 Consumer Rights and Responsibilities
24 cards
1.8.6 Market imperfections
AQA A-Level Economics > 1. Individuals, firms, markets and market failure > 1.8 The market mechanism, market failure and government intervention in markets
37 cards
1.8 The market mechanism, market failure and government intervention in markets
AQA A-Level Economics > 1. Individuals, firms, markets and market failure
428 cards
3. Individuals, firms, markets and market failure
AQA A-Level Economics
1626 cards
3.8.4 Positive and negative externalities in consumption and production
AQA A-Level Economics > 3. Individuals, firms, markets and market failure > 3.8 The market mechanism, market failure, and government intervention in markets
49 cards
3.8.8 Government intervention in markets
AQA A-Level Economics > 3. Individuals, firms, markets and market failure > 3.8 The market mechanism, market failure, and government intervention in markets
31 cards
3.8 The market mechanism, market failure, and government intervention in markets
AQA A-Level Economics > 3. Individuals, firms, markets and market failure
456 cards
1.8.1 How markets and prices allocate resources
AQA A-Level Economics > 1. Individuals, firms, markets and market failure > 1.8 The market mechanism, market failure and government intervention in markets
27 cards
3.1.5.1 Market structures
AQA GCSE Economics > 3.1 How markets work > 3.1.5 Competitive and concentrated markets
75 cards
3.8.1 How markets and prices allocate resources
AQA A-Level Economics > 3. Individuals, firms, markets and market failure > 3.8 The market mechanism, market failure, and government intervention in markets
42 cards
1. Individuals, firms, markets and market failure
AQA A-Level Economics
824 cards
3.4.1 Production and productivity
AQA A-Level Economics > 3. Individuals, firms, markets and market failure > 3.4 Production, costs, and revenue
31 cards
1.8.2 The meaning of market failure
AQA A-Level Economics > 1. Individuals, firms, markets and market failure > 1.8 The market mechanism, market failure and government intervention in markets
8 cards
3.4 Production, costs, and revenue
AQA A-Level Economics > 3. Individuals, firms, markets and market failure
389 cards
4.4 Consumer law
OCR GCSE Business Studies > 4. Operations
81 cards
3.8.2 The meaning of market failure
AQA A-Level Economics > 3. Individuals, firms, markets and market failure > 3.8 The market mechanism, market failure, and government intervention in markets
37 cards
3.8.5 Merit and demerit goods
AQA A-Level Economics > 3. Individuals, firms, markets and market failure > 3.8 The market mechanism, market failure, and government intervention in markets
118 cards
1.8.5 Merit and demerit goods
AQA A-Level Economics > 1. Individuals, firms, markets and market failure > 1.8 The market mechanism, market failure and government intervention in markets
51 cards
Theme 1: Introduction to markets and market failure
Edexcel A-Level Economics
842 cards
3.1.6.1 Types of market failure
AQA GCSE Economics > 3.1 How markets work > 3.1.6 Market failure
37 cards