GROWTH DEVELOPMENT CHILD
DEVELOPMENT AND LEARNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Technological developments
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Economic issues
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legal issues
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impact of external factors on product development
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Detailed explanation-1: -Consumer Protection Act is primarily concerned with the nature of consumer transactions, trying to improve market conditions for effective exercises of consumer choice. Competition Act investigates all actions that may hinder competition and reduce consumer’s welfare in the market.
Detailed explanation-2: -Consumer Protection Act, 1986 seeks to promote and protect the interest of consumers against deficiencies and defects in goods or services. It also seeks to secure the rights of a consumer against unfair or restrictive trade practices.
Detailed explanation-3: -The purpose of competition law is ensuring a fair marketplace for consumers and producers by prohibiting unethical practices designed to garner greater market share than what could be realized through honest competition.