About This Chapter
Consumer Rights & Protections - Chapter Summary
If you need help understanding different consumer rights and protections, you've reached the right place. These entertaining lessons provide in-depth analyses of product liability, consumer privacy online, consumerism and much more. Review these lessons as short videos that average 8 minutes each, or scroll down to access full transcripts you can print or read online. Multiple-choice quizzes and a practice exam are available to test your understanding of concepts covered in this chapter. All resources are available 24/7 via any computer or mobile device. Once you've completed this chapter, you will be able to do the following:
- Differentiate between consumers, consumerism and customers
- Discuss five major consumer rights
- Identify government regulation agencies for consumer protection
- Explain how consumer privacy is protected online
- Define product liability and provide details about associated laws
1. Differences Between Customers, Consumers & Consumerism
In this lesson, you will learn the difference between customers and consumers. In addition, the idea of consumerism will be discussed through the explanation of consumer advocacy groups and regulation.
2. Five Major Consumer Rights
Consumers should expect safe products and ethical behavior from businesses. While there is not any official regulation, President Kennedy introduced four of the five major consumer rights: safety, information, choice, voice and redress.
3. Government Regulation Agencies for Consumer Protection
You will learn about the government regulatory agencies that protect consumers. We'll discuss what the acronyms CFPB, CPSC, FTC, FDA, NHTSA, and SEC stand for and their organizations' responsibilities.
4. Protecting Consumer Privacy Online
Every week, there is a news headline announcing a consumer data breach from a well-known organization. In this lesson, you will learn how government and business is trying to protect consumer privacy online.
5. What Is Product Liability? - Definition & Laws
Businesses are held responsible when their products are defective, known as product liability. Liability can be based on one or more of three theories: Breach of warranty, negligence, and strict liability. This lesson explains these three theories.
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Other chapters within the UExcel Business Ethics: Study Guide & Test Prep course
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- The Interaction of Business, Government & Society
- Understanding Management & Stakeholders in Business
- Public Affairs & Crisis Management for Business
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- Promoting Diversity in the Workforce
- Stockholders & Corporate Governance
- Corporate Social Responsibility & the Community
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- Business & Special Interest Groups
- The US Government & Legislation
- Regulations & Public Policy for Business
- The Judicial Branch of the US Government
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- Global Business Environment Overview
- Understanding International Trade & Business Law
- Understanding Technology in Business
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