Protection

Protection Though consumer is said to be the king of entire business sphere, his interests are virtually neglected. Shortage of goods makes the consumers to be content with whatever is offered for sale. Quality is sacrificed: warranty of performance has no meaning; health hazard is never considered; profit maximisation turns out to be sole consideration of business enterprises. In such a context, consumer protection remains a vital importance. There are three parties involved in the sphere of business transactions viz. the Government, business and the consumers. Let us discuss what each party has to do in this regard ROLE OF BUSINESS ROLE OF GOVERNMENT ROLE OF CONSUMER Role of Business Business enterprises should do the following towards protecting consumers. . Avoidance of Price Hike Business enterprises should desist from hiking the price in the context of acute shortage of goods /articles. . Avoidance of Hoarding Business enterprises should allow the business to flow normally. It should not indulge in hoarding and black marketing to earn maximum possible profit in the short term at the cost of consumers. . Guarantees for Good Quality Business enterprises should not give false warranty for the products. It should ensure supply of good quality. . Product Information Business enterprises should disclose correct, complete and accurate information about the product viz. size, quality, quantity, substances, use, side effects, precautions, weight, exchange, mode of application etc. 12th Commerce Unit - - . . AM . Truth in advertising Business enterprises should not convey false, untrue, bogus information relating to the product through the advertisements in media and thus mislead the consumers. . Protection from the Hazard Business enterprises should not market the product which is potentially hazardous and harmful. It should test the safety of the product before they are marketed. As regards food items, business enterprises should withdraw spoiled and contaminated food items. . Money Refund Guarantee Where the product becomes defective, business enterprises should replace it with new one or refund the purchase price. If the product causes injury or harm to consumers, it should reimburse the expenditures done by the consumers concerned. .