(a) Give five reasons for the protection of consumers (b) state five measures taken to protect consumers.

Answer Details

(a) Five reasons for the protection of consumers

1. Ignorance of consumers: Many consumers lack full knowledge of the quality, content and true value of goods, and so need protection from being deceived.
2. Sale of harmful/adulterated goods: Some traders sell expired, fake, adulterated or unsafe products that can endanger the health and life of consumers.
3. Exploitation through high prices: Consumers need protection from sellers who charge excessive prices, hoard goods or create artificial scarcity.
4. Misleading advertisements and labelling: Consumers may be misled by false claims, wrong weights, measures and labels, and therefore need safeguards.
5. Imbalance of power: The seller (especially a monopolist) is usually more powerful and better informed than the individual consumer, who needs support to obtain fair treatment.

(Other valid reasons: to ensure the safety of consumers; to provide a means of redress for cheated buyers.)

(b) Five measures taken to protect consumers

1. Legislation: Government enacts laws (such as those on weights and measures, food and drugs, and standards) that punish dishonest traders and set minimum standards.
2. Establishment of standards bodies: Agencies such as the Standards Organisation and NAFDAC set and enforce quality standards and certify safe products.
3. Price control: Government fixes maximum prices for essential commodities to prevent overcharging and exploitation.
4. Formation of consumer associations: Consumer protection councils and associations educate buyers, receive complaints and press for their members' interests.
5. Provision of accurate information and labelling: Manufacturers are required to state the contents, weight, price, manufacture and expiry dates on products so that consumers can make informed choices.

(Other valid measures: inspection and testing of goods before sale, and courts/tribunals for redress.)