About This Chapter
Consumer Rights & Regulations - Chapter Summary and Learning Objectives
Use this chapter to learn how federal regulatory agencies work to protect the rights of consumers. You can also examine the role of the courts in this process and take a look businesses' approach to product liability laws. Lessons are designed to teach you the following:
- The five major rights of consumers
- Online consumer privacy protection
- Responsibilities of various federal regulatory agencies
- Products subject to regulation and liability law
|Differences Between Customers, Consumers & Consumerism||Learn to differentiate between the people who purchase goods and services and the people who use them. Explore the definition of consumerism.|
|Five Major Consumer Rights||Examine consumers' rights to safety, choice, voice, information and redress.|
|Government Regulation Agencies for Consumer Protection||Learn which types of products are subject to regulation. Identify the roles of the Consumer Financial Protection Bureau, the Consumer Product Safety Commission and the Food and Drug Administration, among other federal regulatory agencies.|
|Protecting Consumer Privacy Online||Explore best practices for protecting consumers' online privacy.|
|Product Liability & Court Protections for Consumers||Learn how the court system protects consumers. Scrutinize some of the methods businesses use to weaken product liability laws.|
1. Differences Between Customers, Consumers & Consumerism
Despite similar roots, customers, consumers, and consumerism have differences in meaning. Distinguish between them, learn their definitions, and explore consumerism through the lens of consumer advocacy groups and consumer regulation.
2. Five Major Consumer Rights
The five major consumer rights protect consumers from unethical business practices and encourage production of safe products. Explore the consumer bill of rights including safety, information, choice, voice, and redress.
3. Government Regulation Agencies for Consumer Protection
Consumer protection agencies are tasked with maintaining fair business practices, free from hazards and unfair discrimination. Learn how Government programs act to protect consumer financial safety, billing practices, food & drug consumption, high traffic, and consumer information security.
4. Protecting Consumer Privacy Online
Despite the importance of consumer privacy, data breaches are a regular issue that the government and businesses are trying to stop. Learn about protecting consumer privacy online, focusing on government regulation and business initiatives.
5. What Is Product Liability? - Definition & Laws
Product liability refers to the legal responsibility of a business if it produces and/or sells a faulty good or service. Explore the definition and three different theories of product liability: breach of warranty, negligence, and strict liability.
6. Ethical Issues in Medicine & Psychology
The profession of health care brings its own problems with moral and ethical issues that need to be seriously considered. Learn more about ethics in psychology and medicine, recognize their importance, and read examples of issues.
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Other chapters within the Business 108: Business Ethics course
- Introduction to Business Ethics
- Employees, Stockholders, & Corporate Governance
- The Relationship Between Business, Government & Society
- Public Relations for Business
- Diversity in the Workforce
- Business-Government Relations
- Business' Influence on the Political Environment
- Corporate Social Responsibility & Citizenship
- Business & the Community
- The Media's Impact on Business
- Ethics in Advertising
- Strategies of Special Interest Groups
- Technology, Business, & Society
- Environmental Issues in Business
- The Global Business Environment
- Individual Integrity & Ethics
- Studying for Business 108