Consumer Awareness, Rights and Protection

 

1. Who is a consumer?

Ans: Any one who purchases necessary commodities or products and services from the market and consumes or enjoys them, we call them buyer or customer. In Economics the customer is called consumer.

2. What are some special functions of the economic system .

Ans: Some special functions of the economic system are :

a) Production 

b) Consumption

c) Exchange 

d) Investment 

e) Distribution

f) Employment etc.

3. How are consumption and production dependent on each other?

Ans: The consumer requires production to consume . Absence of production leads to scarcity of commodities for consumption. On th other hand when the quantity of consumption increases, the demand for production also increases and the producers are encouraged to increase, their production. This shows that consumption and production are dependent on each other.

4. How does the consumers take part in the process of a country's development?

Ans: By consuming produced goods or commodities and services , consumers take part in the process of a country's development.