Previously, we learnt that consumers have to make a choice between a need and a want. In addition, they are faced with challenge, in identifying purchasing and using goods and services. These challenges make up the problems that face a consumer.
These are:
- Scarcity of resources
- Inflation
- Lack of Information
- Lack of awareness of consumer rights
Scarcity of resources
Sometimes resources such as money, goods, time, energy and services may be limited.
Inflation
This is the rise of prices of goods and services.
This results to the purchase of fewer goods/services with the same amount of money that one would have previously used.
Lack of Information
A consumer needs the right information about goods and services in order to be a wise buyer.
When the consumer lacks information, he/she may buy goods and services of low quality, hence does not get value for his or her money.
Lack of awareness of consumer rights
Many consumers are ignorant about their rights and responsibilities about choice, use and maintenance of goods and services.
This may lead to exploitation.
Some of the rights include:
The right to be heard
The right to compensation in case of unsatisfactory goods and services
Legal redress if their rights are infringed upon
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