SELECT * FROM question_mgmt as q WHERE id=5356 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=20 AND chapterId=601 and ex_no='3' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 12th business-studies Consumer Protection what are various ways in which the objective of co

Question:

What are various ways in which the objective of consumer protection can be achieved?

Answer:

There are various ways, by which the objectives of consumer protection can be achieved:

1. Self-regulation by business: Business firms realize that it is in their long- term interest to serve the consumers well. Socially responsible firms follow ethical standards and practices in dealing with their customers. Many firms have set-up their customer service and grievance cells to redress the problems and grievances of their consumers.

2. Business Associations: The Associations of trade, commerce and business like Federation of Indian Chambers of Commerce of India (FICCI) and Confederation of Indian Industries (CII) have laid down certain code of conduct, which lay down for their members the guidelines in their dealings with the customers.

3. Consumer Awareness: A consumer, who is well informed about his rights and the reliefs available to him, would be in a position to raise his voice against unfair trade practices or unscrupulous exploitation. This would enable him to safeguard his interests.

4. Consumer Organisations: They play an important role in educating consumers about their rights and providing protection to them. They can also force business firms to avoid malpractices and exploitation of consumers.

5. Government: The government can protect the interests of the consumers by enacting various legislations. The legal framework in India encompasses various legislations, which provide protection to consumers. The most important of these regulations is the Consumer Protection Act, 1986, which provides three-tier machinery for redressal of consumer grievances.


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