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The Importance of Consumer Education

Consumers are the people who buy goods and services to satisfy their needs and wants. They are the source of profit for businesses to grow and be successful. However, consumers are often cheated on by fraudulent companies. Hence, consumers need to learn consumer education.

Consumer Education provides people with the right information when buying goods and services. In this way, they can make wise decisions that would prevent them from being a victim of the corrupt market practices.  

One common problem faced by consumer is defective weights and measures wherein the seller manipulates the equipment to show phony results that the consumer will believe in. The consumer will still pay the amount asked thus making the seller receive higher profit.

Another common problem is adulteration and poor quality. Adulteration involves adding or deleting certain items/parts that would lower the product’s quality. It also occurs due to the use of low quality raw materials, improper manufacturing practices or inadequate storage of finished goods. Adulteration is commonly deliberate. These goods are potentially harmful to the public’s health and safety.

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