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
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.
6. Ethical Issues in Medicine & Psychology
The world of healthcare is full of ethical issues, and they can be difficult to figure out. In this lesson, explore four major ethical issues, and then test your understanding with a brief quiz.
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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