1.

Explain any four ways in which the objective of consumer protection can be achieved.

Answer»

There are various ways in which the objective of consumer protection can be achieved which are as follows: 

1. Self Regulation by Business: Enlightened business firms realize that it is in their long-term interest to serve the customers well. Socially responsible firms follow ethical standards and practices in dealing with their customers. 

2. Business Associations: The associations of trade, commerce and business like Federation of Indian Chambers of Commerce of India and Confederation of Indian Industries have laid down their code of conduct which lay down their guidelines for their members in dealing with the customers. 

3. Consumer Awareness: A consumer who is well informed about his rights, and the reliefs available, would be in a position to raise his voice against any unfair trade practices or any kind of exploitation by the seller 

4. Consumer Organization: Consumer organizations play an important role in educating consumers about their rights and providing protection to them. They can force business firms to avoid malpractices and exploitation of consumers. 

5. Government: The government can protect the interest of the consumers by enacting various legislations.



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