Tuesday, June 11, 2013

Who Is Consumer?

A consumer is a person or group of people who are the final users of products and or services generated within a social system. Generally it means a person who buys goods and services for his personal use or for domestic or household purpose. The concept of a consumer may vary significantly by context, although a common definition is an individual who buys products or services for personal use and not for manufacture or resale.

In term of economics and marketing, the consumer is the one who pays to consume the goods and services produced. In the absence of effective consumer demand, producers would lack one of the key motivations to sell to consumers.

On the other hand, the law primarily uses the notion of the consumer in relation to consumer protection laws, and the definition of consumer is often restricted to living persons and excludes commercial users. A typical legal rationale for protecting the consumer is based on the notion of policing market failures and inefficiencies, such as inequalities of bargaining power between a consumer and a business. As of all potential voters are also consumers, consumer protection takes on a clear political significance.


The bills of water and electricity that I paid simply make me a consumer isn't it?

Yes, and as a consumer, you should aware about your rights.
Read more the post on consumer rights (http://fakeenough.blogspot.com/2013/06/basic-consumer-rights.html)

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