Question

Explain the need for consumer protection.

Answer 1

The need for consumer protection are:

1. Consumer ignorance is highly seen in the market due to which there is a need for consumer protection.

2. Unorganized consumers- Consumers are very unorganized so there is a need for a universal forum to organize these consumers all over the world.

3. Widespread Exploitation of Consumers: Consumers are the king pin of the market but they are widely exploited in the market due to which there should be a legal organisation that regulates the consumers and sellers actions in the market.