Question

In: Operations Management

The general thrust of consumer protection legislation has been to provide accurate information or disclosure of...

The general thrust of consumer protection legislation has been to provide accurate information or disclosure of essential terms to the buyer. Has consumer protection legislation generally met this goal?

Solutions

Expert Solution

A Thumbs Up! Would be really helpful for me. If you have any questions, please leave a comment and I will get back to you as soon as possible.

Yes, absolutely! Consumer protection legislation is working day night to keep the consumers aware of the fact that whenever they buy something they should see the labels and ingredients mentioned on the product so that they should not get exploited by the company or by the shopkeepers selling the products. They always try to provide awareness to the consumers not to get exploited by the companies for by the various shopkeepers selling the products of the various companies. There are many companies and various shopkeepers who tend to do fraudulent activities in order to achieve competitive advantage over their competitors and in this process, the consumers are the ones who suffer because in order to achieve competitive advantage companies and shopkeepers try to sell low-quality products and try to earn more money. Consumer protection legislation is always there for the consumers and they will do every kind of help in order to provide justice to there consumers.


Related Solutions

It has been suggested that the general (or overall) goal of business legislation is to maximize...
It has been suggested that the general (or overall) goal of business legislation is to maximize choice in the marketplace. Of the most prominent marketing philosophies (production, product, sales, marketing, and societal marketing), which do you believe is most consistent with this goal? Explain your selection of a philosophy.
It has been suggested that the general (or overall) goal of business legislation is to maximize choice in the marketplace.
It has been suggested that the general (or overall) goal of business legislation is to maximize choice in the marketplace. Of the most prominent marketing philosophies (production, product, sales, marketing, and societal marketing), which do you believe is most consistent with this goal? Explain your selection of a philosophy.
should accounting information provide presentation and disclosure and what are the reasons?
should accounting information provide presentation and disclosure and what are the reasons?
Provide an example of steel which has been coated for protection. Explain the coating, fabrication and...
Provide an example of steel which has been coated for protection. Explain the coating, fabrication and good and bad points of the coating selection.  
1. In markets with asymmetric information or hidden information, consumer protection laws ("lemon laws") increase sales...
1. In markets with asymmetric information or hidden information, consumer protection laws ("lemon laws") increase sales of high-quality goods because: A. They prohibit anyone from selling a lemon B. No one will sell a lemon for fear of being fined or imprisoned C. Sellers have far less incentive to exaggerate a good's quality, because buyers will often return lemons that were advertised as high quality D. They require sellers to sell both high- and low-quality goods 2. The seller of...
Suppose that your team has been hired by a high-tech, consumer electronics firm to provide an...
Suppose that your team has been hired by a high-tech, consumer electronics firm to provide an economic analysis of how to price this new product in such a way that maximizes the company's profits. In today's technologically driven world, there are some people who enjoy becoming the first adopters of a new product. Most people, however, seem to hold back to see the development of the product before they jump in. Are there any strategies that the firm can take...
protection factors provide information on the stability of individual amino acids in proteins. why is the...
protection factors provide information on the stability of individual amino acids in proteins. why is the determination of protection factors not possible using HDX-MS?
Please provide information on the following topics What were the "big" issues with the TARP legislation?...
Please provide information on the following topics What were the "big" issues with the TARP legislation? Why did the legislation initially fail to pass Congress? What were the consequences?
Assume you are working at the Consumer Protection Agency. Recently, you have been getting complaints about...
Assume you are working at the Consumer Protection Agency. Recently, you have been getting complaints about the highway gas mileage of a new minivan. The car company agrees to allow you to select randomly 41 of its new minivans to test their highway mileage. The company claims that its minivans get 28 miles per gallon on the highway. Your test results show a sample mean of 26.7 and a sample standard deviation of 4.2. Part 1 (Confidence Interval): Calculate a...
You have been asked to provide an accurate and up-to-date profit and loss report on work...
You have been asked to provide an accurate and up-to-date profit and loss report on work in process for a particular job. What data might you draw on? What reports might you need to access? How would you ensure that the information you provide is error free and comprehensive
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT