Best answer: What is the role of government in protecting consumers in the market?

The FTC protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace. We conduct investigations, sue companies and people that violate the law, develop rules to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities.

What are the role of the government to protect the consumer and customer?

The role of government should be to insure a balance between buyer and seller in the marketplace. … Hence, the goal of government in the protection of the consumer is not to regulate the legitimate businessman, but to en- sure that he alone reaps the deserved benefits of his enterprise.

What is the role of government in consumer protection?

The government has established the Central Consumer Protection Authority to promote, protect and enforce the rights of consumers. … The authority will be empowered to conduct investigations into violations of consumer rights and file complaints, prosecute, and order recall of unsafe goods and services.

What are the steps taken by the government to protect consumers?

Consumer courts: district, state and national levels for redressal of consumer grievances. RTI ACT (Right to information) 2005, Ensuring transparency in functioning of government departments. Central protection authority to recall products and initiate class suit against defaulting companies. Consumer helpline.

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What are the responsibilities of consumer?

Consumer Responsibilities

  • Be Aware. Gather all the information and facts available about a product or service, as well as, keep abreast of changes and innovations in the market.
  • Beware. …
  • Think Independently. …
  • Speak Out. …
  • Be an Ethical Consumer. …
  • Complain. …
  • Share Experience. …
  • Respect the Environment.

What are reasons for consumer protection?

(vi) Sales of harmful food and drugs: Consumers need protection to ensure that goods offered for sale do not :ontain dangerous chemicals or damaging side effect. (b) Government legislations aimed at protecting the consumers are: (i) Weight and Measures Act helps to prevent the use of incorrect weight and measures.

What is the Consumer Protection Act?

The Consumer Protection Act, implemented in 1986, gives easy and fast compensation to consumer grievances. It safeguards and encourages consumers to speak against insufficiency and flaws in goods and services. If traders and manufacturers practice any illegal trade, this act protects their rights as a consumer.

How do we protect the consumer?

Consumer Rights

  1. Right to safety. Means right to be protected against the marketing of goods and services, which are hazardous to life and property. …
  2. Right to choose. …
  3. Right to be informed. …
  4. Right to consumer education. …
  5. Right to be heard. …
  6. Right to Seek redressal. …
  7. Consumer Protection Act. …
  8. Ask Yourself!