CBSE Notes for Ch 5 Consumer Rights Economics Class 10

Consumer Rights | Revision Notes | CBSE | Class 10 | Economics

Consumer : Consumer is the one who pays a price for a commodity or service and uses it.

Consumer Awareness : Consumers consciousness towards their rights and duties is known as consumer awareness.

Consumer Exploitation : When a consumer is harrassed by the business community due to the lack of information about products is known as consumer exploitation.

Adulteration : Adulteration is a process of adding inferior substances in costly items like oil, ghee and spices.

Father of consumer movement : Mr. Ralph Nador, a consumer activist, is considered as the father of consumer movement.

World Consumer Rights Day : March 15 is now celebrated as the World Consumer Rights Day.

Consumer Courts : These are courts which have been established under the Consumer Protection Act 1986 at national, state and district level to protect the interest of the consumers.

Consumer Protection Act, 1986 : This act is one of the most important legal measures in protection of the rights of the consumers.

Agmark : It is implemented under the Agricultural Products Act, 1937 as amended in 1986 in which products, such as honey, masala and spices carry such marks.

Black marketing : It means selling the goods at a higher price by creating an artificial shortage in relation to demand.

Hoarding : Hoarding is that situation when those goods which are meant for public sale are kept in godowns illegally without reporting to the government.

Prices : Prices are what must be given in exchange of something and prices are usually expressed in terms of quantity of money per unit of a commodity.

Public Distribution System : The supply of essential commodities to the people through government agencies is known as Public Distribution System.

Standardisation of Products : Standardlisation of Products is an important measures taken by the government to protect the consumers from lack of quality and varying standards of goods.

Consumer International : At the international level, this has become the foundation for consumer movement.

World Consumer Rights Day : The World Consumer Rights Day is celebrated on 15 March of every year.

Rights of Consumers : (i) Right to safety, (ii) Right to be informed, (iii) Right to choose (iv) Right to be heard (v) Right to consumer education

ISO : International Organisation for Standardisation (ISO) is non-governmental organisation established in 1947 which works according to international agreements for the standardisation of products.

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