Consumer right and consumption. - SS3 Commerce Lesson Note

Consumer rights refer to the basic entitlements that individuals have when they engage in the act of consuming goods or services. These rights are designed to protect consumers and ensure they are treated fairly in their interactions with businesses. Here are some key consumer rights:

• Right to Safety: Consumers have the right to expect that the products they purchase are safe to use. This means that products should not pose any unreasonable risks to the health or well-being of consumers when used as intended.
• Right to Information: Consumers have the right to receive accurate and truthful information about products and services. Businesses should provide clear details regarding the features, ingredients, pricing, warranties, and any potential risks associated with their offerings.
• Right to Choice: Consumers have the right to choose from a variety of goods and services at competitive prices. They should not be forced into purchasing specific products or services and should have access to alternatives.
• Right to Redress: Consumers have the right to seek a remedy or compensation if they encounter problems with a product or service. This includes the ability to return faulty products, receive refunds, or have issues resolved in a fair and timely manner.
• Right to Privacy: Consumers have the right to have their personal information protected and used only with their consent. Businesses should handle consumer data responsibly and securely, ensuring privacy and protecting against unauthorized use or disclosure.

Consumption, on the other hand, refers to the act of using or utilizing goods and services to satisfy needs and desires. It is the process by which individuals or households acquire, use, and dispose of goods and services in the marketplace.

Consumption is a fundamental aspect of everyday life, as individuals engage in various economic activities to meet their needs, fulfill their aspirations, and improve their well-being.