Write a note on ‘Why the Consumer needs Protection’.

Question

07 Aug 2023

Answer :

Word Count : 336

Consumer protection is essential because consumers are often in a vulnerable position compared to businesses and sellers. There are several reasons why consumers need protection:

1. Information Asymmetry: Consumers may lack the expertise or information to make well-informed choices about products and services. Sellers, on the other hand, may have more knowledge about their offerings, leading to information asymmetry. Consumer protection ensures that consumers receive accurate and transparent information to make informed decisions.

2. Unfair Practices: Some businesses may engage in deceptive or unfair _______ __________ ___ _________ _______ _____ _______ ______.
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