Theory question 108
Consumer ProtectionCommerce 2 (essay, answer five questions only)
(a) Give five reasons why consumers need protection
(b) Explain five means by which consumers can be protected
Show the model answer
(a) Any five: sale of fake and sub-standard goods; harmful/expired foods and drugs; exploitative prices and hoarding; false or misleading adverts; short weights and measures; unfair credit/hire purchase terms; ignorance of consumers about their rights; monopoly power of producers.
(b) Any five, explained: legislation (Sale of Goods Act, Hire Purchase Act, Weights and Measures Act, Trade Descriptions Act, Food and Drugs Act); government agencies (standards organisation, NAFDAC, Consumer Protection Council); consumer associations; price control; consumer education; self-regulation by trade associations; the courts.
Name real laws and agencies in (b).