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WHAT are the effect of consumer movement on the protection of business?
Wiki User
∙ 9y ago
Consumer protection laws have many positive effects:
- Merchants must stand behind the products and services they sell.
- A good faith purchaser has legal recourse when the item they purchased does not do what it promised to do.
- They promote truth in advertising: Buyers are more likely to spend money on purchases when they know the seller must make certain the product is as advertised.
- The buyer can obtain a refund when the product fails within an unreasonable amount of time or with reasonable use.
- People are less likely to be scammed by unscrupulous sellers.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoConsumer protection laws have many positive effects:
- Merchants must stand behind the products and services they sell.
- A good faith purchaser has legal recourse when the item they purchased does not do what it promised to do.
- They promote truth in advertising: Buyers are more likely to spend money on purchases when they know the seller must make certain the product is as advertised.
- The buyer can obtain a refund when the product fails within an unreasonable amount of time or with reasonable use.
- People are less likely to be scammed by unscrupulous sellers.
Consumer protection laws have many positive effects:
- Merchants must stand behind the products and services they sell.
- A good faith purchaser has legal recourse when the item they purchased does not do what it promised to do.
- They promote truth in advertising: Buyers are more likely to spend money on purchases when they know the seller must make certain the product is as advertised.
- The buyer can obtain a refund when the product fails within an unreasonable amount of time or with reasonable use.
- People are less likely to be scammed by unscrupulous sellers.
Consumer protection laws have many positive effects:
- Merchants must stand behind the products and services they sell.
- A good faith purchaser has legal recourse when the item they purchased does not do what it promised to do.
- They promote truth in advertising: Buyers are more likely to spend money on purchases when they know the seller must make certain the product is as advertised.
- The buyer can obtain a refund when the product fails within an unreasonable amount of time or with reasonable use.
- People are less likely to be scammed by unscrupulous sellers.
Consumer protection laws have many positive effects:
- Merchants must stand behind the products and services they sell.
- A good faith purchaser has legal recourse when the item they purchased does not do what it promised to do.
- They promote truth in advertising: Buyers are more likely to spend money on purchases when they know the seller must make certain the product is as advertised.
- The buyer can obtain a refund when the product fails within an unreasonable amount of time or with reasonable use.
- People are less likely to be scammed by unscrupulous sellers.
Wiki User
∙ 9y agoWhen customers aren't loyal, then the business isn't as stable. Management must develop a strategy to stop customer migration, so that they can remain in operation.
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Why have consumer Protection?
There are several important reasons for some sort of formal "consumer protection." To take it first from the consumer's point of view, the seller has possession of the item for sale and is in a much better position to know the product and/or prevent the consumer from seeing anything wrong with it. Very often, also, the seller is in a financially superior position in general and is able to intimidate the purchaser. Finally, in a society like ours in the U.S. where the producer may be far away from the market, consumer protection prevents a seller from escaping the consequences of inferior or dangerous products just because the victim is far away. From the society's (including the seller's) point of view, some sort of consumer protection allows there to be more trust between the parties to a sale. This reduces negotiation time and other "transaction" costs and makes it possible to do more business. That is, theoretically, one reason the American and European commercial systems are more stable and prosperous than those of some third-world countries.
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What effect do consumer-protection regulations have on the circular of the free-market system?
They inspire consumer confidence, which leads to increased purchases from producers.
What effect do consumer-protection regulations have on the circular flow on the free-market system?
They inspire consumer confidence, which leads to increased purchases from producers.
What effect do consumer-protection regulations have on the circular flow of the free-market system?
They inspire consumer confidence, which leads to increased purchases from producers.
What effect do consumer - protection regulations have on the circular flow of the free market system?
They inspire consumer confidence, which leads to increased purchases from producers.
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Apply to both consumer and business to business cotract, and also to terms and notices excluding certain libilities. it has effect only between the immmediate parties.
Why have consumer Protection?
There are several important reasons for some sort of formal "consumer protection." To take it first from the consumer's point of view, the seller has possession of the item for sale and is in a much better position to know the product and/or prevent the consumer from seeing anything wrong with it. Very often, also, the seller is in a financially superior position in general and is able to intimidate the purchaser. Finally, in a society like ours in the U.S. where the producer may be far away from the market, consumer protection prevents a seller from escaping the consequences of inferior or dangerous products just because the victim is far away. From the society's (including the seller's) point of view, some sort of consumer protection allows there to be more trust between the parties to a sale. This reduces negotiation time and other "transaction" costs and makes it possible to do more business. That is, theoretically, one reason the American and European commercial systems are more stable and prosperous than those of some third-world countries.
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