Define consumer protection and state any three points of importance of consumer protection from
the point of view of business.
or
Explain the importance of consumer protection from the point of view of a business.
Consumer protection is a wider term with following aims:
(i) Providing protection to consumers against unfair trade practices of traders, manufacturers and service providers.
(ii) Educating consumers about their rights and responsibilities.
(iii) Providing speedy and inexpensive redressal of their grievances.
Importance of consumer protection from the point of view of business :
