Business and Consumers(Social Aspects of Business)
Business and Consumers( Social Aspects of Business) This session helps students understand the evolving relationship between business organizations and consumers in contemporary markets, particularly in India, where digital commerce, consumer awareness, and regulatory interventions are growing rapidly. Learning Objective 1 Knowing the Five Major Rights of Consumers Consumer rights were originally articulated by U.S. President John F. Kennedy and are reflected in India's Consumer Protection Act, 2019. 1. Right to Safety Consumers must be protected from products and services that may cause harm. Indian Examples BIS-certified electrical appliances. Mandatory helmet safety standards. FSSAI regulations for food products. BIS Hallmarking of gold jewellery protects consumers from purity fraud. 2. Right to Be Informed Consumers should receive accurate information regarding: Price Ingredients Quality Risks Warranty Example Nutritional labe...
