JSS3 Business Studies Lesson Note on Consumer Protection Agencies

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TOPIC: CONSUMER PROTECTION AGENCIES

CONTENT:

(a) Meaning of Consumer Protection

(b) Need for Consumer Protection

(c) Regulators (Agencies):

(d) Roles and Responsibilities of Consumer Protection Agencies.

Sub topic 1:(A) MEANING OF CONSUMER PROTECTION

Consumer protection is the government regulation made to protect the interests of consumers against exploitation by producers or manufacturers and ensuring maximum satisfaction. Hike in price, substandard goods, varying prices and inconsistent weight are some of the actions of producers that consumers are protected against.

(B) NEED FOR CONSUMER PROTECTION

These are the needs/reasons for consumer protection:

• Lack of concern: – Producers generally does not have concern about consumer welfare. They are only interested in their profit or gain
• Illiteracy and Ignorance: – Many consumers are ignorance of their right.
• Protection against harmful, counterfeit and dangerous goods
• To ensure production of quality and durable goods.
• To educate the Public: – many consumers are not aware of the side effect of consuming certain goods, and the knowledge about the goods.
• Maximum satisfaction: – To ensure consumer derive optimum utility
• To check deceptive weight, and measurement.
• To guarantee or give warranty to goods not earlier inspected.
• To reduce or prevent hoarding.
• To ensure advert that disclose deceptive immoral, exaggerated, or misleading information are curtail

Sub topic 2:  REGULATORS/AGENCIES OF CONSUMER PROTECTION WITH THEIR ROLES AND RESPONSIBILITIES.

These are bodies, organization, association or government agencies that promote consumer protection, some of which are:

Consumer Association or Consumer Protection Council of Nigeria:- their roles include:

1. They educate consumer
2. Help to provide redress.
3. Ensure consumers that are exploited are compensated.
4. Apply to court to obtain justice
5. Ensure manufacturer produce high quality product.
6. To eradicate or remove from the market hazardous goods
7. To expose or publish banned product.
8. To organize and undertake campaign that will create public awareness.
9. To issue guidelines to Manufactures in relation to their obligation.
10. To encourage trade industry and professionals to develop and enforce quality designed to safeguard consumer interest.

Department of Petroleum Resources (DPR):- This is a federal government responsible for

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