BUS 101 Lecture Notes - Lecture 2: National Highway Traffic Safety Administration, Consumer Financial Protection Bureau, National Transportation Safety Board
30 Sep 2015
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Document Summary
Consumer movement-organized activities (increasing complexity of economic life has led to these efforts by consumers to safeguard their own rights in many nations. Complex products have enormously complicated the choices the consumers need to make when they shop. Services, as well as products, have become more specialized and difficult to judge. Whe business try to sell either products or services through advertising, claims may be inflated or they may appeal to emotions. Technology has permitted businesses to learn more than ever about their customers. Consumer protection laws-safeguards provided by the u. s. that reflect the goals of government policymakers and regulators in the context of the five rights of consumers outlined above. Deceptive advertising-where manufacturers may not make false or misleading claims about their own product or a competitor"s product, withhold relevant information, or create unreasonable expectations. The federal trade commision enforces the laws prohibiting deceptive advertising.
