Theory question 102
Consumer ProtectionCommerce 2 (answer any five questions)
(a) Explain five reasons why consumers need protection.
(b) State five government legislations aimed at consumer protection.
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(a) Any five, explained: against fake, adulterated or harmful goods and expired drugs; against sub-standard goods; against short weights and measures; against excessive prices and hoarding; against false or misleading advertisements and labels; against unfair credit/hire purchase terms and repossession; because consumers are often ignorant of product details and have little bargaining power against big firms; against monopolies and restrictive practices; to provide means of redress.
(b) Any five: Sale of Goods Act; Hire Purchase Act; Trade Descriptions Act; Weights and Measures Act; Food and Drugs Act (NAFDAC Decree); Standards Organisation of Nigeria Act; Price Control Act; Consumer Protection Council Act; Counterfeit and Fake Drugs Act; Merchandise Marks Act.
Explain each reason in (a); name five laws in (b).