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Chapter 3 Your Purchasing Power. What Are Consumer Rights?. Many laws protect consumers. Consumer Bill of Rights Airline Passenger Rights Consumer Technology Bill of Rights Patients’ Bill of Rights Consumer Protection Laws - PowerPoint PPT Presentation
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Chapter 3
Your Purchasing Power
Slide 2
What Are Consumer Rights?
3-4 Consumer Rights and Responsibilities
Many laws protect consumers.• Consumer Bill of Rights• Airline Passenger Rights• Consumer Technology Bill of Rights• Patients’ Bill of Rights• Consumer Protection Laws
o Examples: Food, Drug, and Cosmetic Act; Hazardous Substances Act; Cigarette Labeling and Advertising Act; Nutrition Labeling and Education Act; FERPA; HIPAA
Slide 3
Sources of Consumer Protection
3-4 Consumer Rights and Responsibilities
• Federal agencieso Examples: USDA, FDA,
CPSC, FCC, FTC, FAA, SEC
• State and local assistance
• Private Organizationso Examples: BBB, National
Consumers League, Consumers Union
Slide 4
How Are Consumers Defrauded?
3-4 Consumer Rights and Responsibilities
Deception involves false or misleading claims made about a product.
• Bait and switch• Fake sales• Low-balling• Pyramid schemes• Ponzi schemes• Pigeon drop• Infomercials
Slide 5
How Are Consumers Defrauded?
3-4 Consumer Rights and Responsibilities
http://www.youtube.com/watch?v=9EQPrFR9KRo
Slide 6
How Can Consumers Protect Themselves from Fraud?
3-4 Consumer Rights and Responsibilities
• Shop smart• Be aware of prices• Understand sale
terminology• Compute unit
prices• Read labels• Check packages
carefully
• Read contracts• Keep receipts and
warranties• Compute total cost• Research
businesses