Commerce ss2 (WK)4

Consumer protection This can be seen as various efforts provided by the government and non-governmental organisations in the country to protect the interests of the consumers against the exploitation of intermediaries and producers of goods or providers of services. Consumerism : Is having the interest of consumers in production and distribution of goods and services.

Consumer’s Rights Below are some of the rights of consumers: Right to safety Right to get value for money spent Right to choose Right to seek redress Right to be heard Right to be informed Right to a healthy environment

Reasons for consumer protection To ensure that consumers derive satisfaction from goods purchased To curb profiteering by businessmen To reduce hoarding of products by middlemen To ensure that goods produced and services rendered are of high quality To ensure that standard measurements are used To ensure that consumers are adequately informed about the side effects of a product e.g. cigarette ( smokers are liable to die young) To ensure that goods sold to consumers do not contain harmful side effects To prevent misleading advertisement To protect consumers from false credit facilities

Measures taken by government and non-governmental bodies to protect consumers  Sales of Goods Act: Ensures that inferior products are not sold  Weight and Measures Act: Ensure that right quantities of goods are sold  Trade Description Act: Ensures that misleading advertising is avoided  Price Control Act: controls prices of goods

 Rent and Tribunal: Ensures that tenants are not cheated  Food and Drug Acts: Ensures that drugs and foods produced are consumable  Hire Purchase Act: Ensures that goods cannot be repossessed after two-third of the payment of the goods have been paid.  Standard Organization of Nigeria (SON): Ensures that the products are tested and meet the Nigeria Industrial Standard before being sold to the market

 NAFDAC: Supervises the production and sales of foods and drugs  Department of Petroleum Resources (DPR): Ensures that petrol stations sell petroleum products at government approved pump prices per litre and also that the volume commensurates with the amount shown on the sales metre

 Professional bodies: Formed to control the practices of their professions and also protect the interest of the consumers e.g. Nigerian Bar Association, Council for Regulation of Engineering in Nigeria ( COREN), Nigerian Medical Association ( NMA) etc  Consumer Association: Ensures that inferior or contaminated goods are not sold to the public.

Assignment Give five reasons why consumers need protection Explain five means by which consumers can be protected (WASSCE JUNE,2004).