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Ch 15: Consumer Rights & Regulations

About This Chapter

Watch online video lessons to learn about consumer advocacy, consumer protections, product liability and more. Each lesson is accompanied by a short quiz you can use to check your understanding of these business topics.

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

Video Objectives
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.

5 Lessons in Chapter 15: Consumer Rights & Regulations
Test your knowledge with a 30-question chapter practice test
Differences Between Customers, Consumers & Consumerism

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.

Five Major Consumer Rights

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.

Government Regulation Agencies for Consumer Protection

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.

Protecting Consumer Privacy Online

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.

What Is Product Liability? - Definition & Laws

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.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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