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Consumer Protection in Class 12, chapter 12 business studies. In this video we will discuss about the introduction & importance of consumer protection.
A consumer is said to be a king in a free market economy. The earlier approach of caveat emptor, which means (“Let the buyer beware”), has now been changed to caveat venditor (“Let the seller beware”).
However, with growing competition and in an attempt to increase their sales and market share, manufacturers and service providers may be tempted to engage in unscrupulous, exploitative and unfair trade practices like defective and unsafe products, adulteration, false and misleading advertising, hoarding, black-marketing, etc.
We will be completing the initial class of Consumer Protection for class 12 cbse exams for 2021.
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