5.3.1 Consumer Protection

• Consumers are often in a weaker bargaining position compared to businesses
• Match the reason for consumer protection with its explanation:

  Unequal Bargaining Power ↔️ Consumers lack information and leverage

  Vulnerability to Unfair Practices ↔️ Consumers are susceptible to misleading advertising
• Consumers have the right to complain through proper channels if their rights are violated.


  True
• Consumers must provide truthful information when seeking compensation or remedies
• Consumer protection laws aim to ensure a fair and transparent marketplace.

  True
• Consumer rights and responsibilities ensure a fair and transparent marketplace.


  True
• The need for consumer protection laws arises from the unequal bargaining power between consumers and businesses
• Consumers are vulnerable to unfair practices such as misleading advertising and deceptive pricing.


  True
• Consumers have certain responsibilities while exercising their rights
• Consumers can maintain a fair marketplace by fulfilling their responsibilities.


  True
• Match the organization with its role:

  Consumer Advocacy Groups ↔️ Educate the public and lobby for policies

  Consumer Dispute Resolution Services ↔️ Provide mediation and arbitration

  Consumer Product Safety Commission ↔️ Ensures product safety and investigates hazards
• What actions can consumer protection agencies take against businesses violating laws?

  Impose fines and order recalls
• What does consumer protection refer to?

  Laws and regulations
• Consumers have the responsibility to treat businesses fairly.


  True
• What is the Right to Safety?

  Safe products
• Order the following consumer rights and responsibilities:

  1️⃣ Right to Safety: Provide accurate information

  2️⃣ Right to Information: Read and understand terms

  3️⃣ Right to Choice: Treat businesses fairly
• Match the consumer right with its corresponding responsibility:

  Right to Safety ↔️ Provide accurate information

  Right to Choice ↔️ Treat businesses fairly
• What is consumer protection?

  Laws protecting consumer rights
• What is meant by unequal bargaining power in consumer protection?

  Consumers have less information
• Match the consumer right with its description:

  Right to Safety ↔️ Purchase products without unreasonable risks

  Right to Be Informed ↔️ Receive accurate and truthful information

  Right to Choose ↔️ Select freely between products

  Right to Be Heard ↔️ Voice complaints and have them addressed

  Right to Redress ↔️ Seek compensation for unfair treatment
• Match the consumer right with its corresponding responsibility:

  1️⃣ Right to Safety

  2️⃣ Provide accurate information about safety concerns

  3️⃣ Right to Information

  4️⃣ Read and understand product terms

  5️⃣ Right to Choice

  6️⃣ Treat businesses fairly
• What is the role of the Consumer Protection Agency?

  Enforces consumer protection laws
• Consumer protection laws are enforced through government agencies, regulatory bodies, and legal mechanisms
• Effective enforcement of consumer protection laws ensures compliance and maintains a fair marketplace.

  True