1. Consumer Bill of Rights Essential Question: How does the Consumer Bill of Rights protect consumers? 1

2. Consumer Bill of Rights What is the purpose of the consumer bill of rights? The consumer bill of rights protects consumers from unfair business practices. The consumer bill of rights protects consumers from unfair business practices. 2

3. Consumer Bill of Rights continued The Right to Be Informed The Right to Be Informed Consumers have the right to be informed of what a product is and its functions. Consumers have the right to be informed of what a product is and its functions. The Right to Safety The Right to Safety Consumers have the right to be protected from harm while using a product or service. Consumers have the right to be protected from harm while using a product or service. 3

4. Consumer Bill of Rights continued The Right to Choose The Right to Choose Consumers have the right to choose what to buy among a variety of products and services. Consumers have the right to choose what to buy among a variety of products and services. The Right to Be Heard The Right to Be Heard Consumers have the right to talk with businesses about products or services they offer. Consumers may share their comments, complaints, concerns, or questions. Consumers have the right to talk with businesses about products or services they offer. Consumers may share their comments, complaints, concerns, or questions. 4

5. Consumer Bill of Rights continued The Right to a Remedy The Right to a Remedy Consumers are assured that they can seek legal remedy when they encounter a problem or defective product. Consumers are assured that they can seek legal remedy when they encounter a problem or defective product. What is a guarantee? What is a guarantee? a promise that a product meets certain quality. a promise that a product meets certain quality. What is the difference between an express and an implied warranty? What is the difference between an express and an implied warranty? An express warranty is a verbal promise by a company about the specific quality performance of a product. Where as an implied warranty may not be verbally communicated but is understood to apply anyway. An express warranty is a verbal promise by a company about the specific quality performance of a product. Where as an implied warranty may not be verbally communicated but is understood to apply anyway. 5

6. Consumer Bill of Rights continued The Right to Consumer Education The Right to Consumer Education Consumers have the right to be informed about how their purchasing decisions impact them personally and the economy. Consumers have the right to be informed about how their purchasing decisions impact them personally and the economy. The Right to Service The Right to Service Consumers have the right to receive goods and services at the promised level by companies. Consumers have the right to receive goods and services at the promised level by companies. 6

7. Government regulation and assistance Essential Question: What are the actions of the government for regulating practices of businesses and providing them assistance? 7

8. Government Regulation and Assistance Why does the government regulate utility companies? Why does the government regulate utility companies? The government regulates utility companies to promote business practices such as fair rates and services. The government regulates utility companies to promote business practices such as fair rates and services. Utility companies are usually a monopoly in the area it serves. Utility companies are usually a monopoly in the area it serves. How does the government prevent unfair business practices? How does the government prevent unfair business practices? The antitrust laws encourage competition and fairness among businesses and avoid monopolies. The antitrust laws encourage competition and fairness among businesses and avoid monopolies. These laws avert false advertising, deceptive pricing, and misleading labeling. These laws avert false advertising, deceptive pricing, and misleading labeling. 8

9. Government Regulation and Assistance Continued Government assist businesses by Government assist businesses by Providing them demographic information Providing them demographic information Buying goods and services from them Buying goods and services from them Employing workers who can buy goods and services from them Employing workers who can buy goods and services from them