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Summary

Consumer rights refer to the legal protections and entitlements that individuals have when purchasing goods or services. These rights ensure that consumers are treated fairly and are provided with products and services that meet specific standards of safety, quality, and honesty. The concept of consumer rights emerged in response to historical practices that exploited consumers, especially during industrialization when unscrupulous business practices became rampant. 
The evolution of consumer rights can be traced back to the early 20th century, when the need for consumer protection became increasingly evident. The rise of mass production and the growth of markets introduced significant risks, including the sale of substandard goods, misleading advertising, and fraud. Over time, governments and advocacy groups recognized the necessity of enacting laws to safeguard consumers. This led to the formation of organizations and agencies dedicated to consumer protection, as well as the establishment of laws aimed at ensuring fair business practices. 
In the United States, one of the most significant milestones in the development of consumer rights was the signing of the Consumer Bill of Rights by President John F. Kennedy in 1962. This document outlined basic rights that every consumer should have, including the right to safety, the right to be informed, the right to choose, and the right to be heard. These principles formed the foundation of many of the consumer protection laws we have today, such as those addressing product safety, fraud prevention, and fair trading.

Duration: about 4 hours (03:40:07)
Publishing date: 2025-01-19; Unabridged; Copyright Year: — Copyright Statment: —

• Business & Economics
• University Textbooks & Dictionaries