CBSE Class 10 Social Science Economics Revision Notes Chapter 5

CBSE Class 10 Economics Chapter 5 Notes- Consumer Rights

In CBSE Class 10 Economics Chapter 5 Notes, students will learn about consumer rights, the consumer movement, and the advancement of the consumer movement. Class 10 Chapter 5 Economics Notes will help students understand how the awareness of being a well-informed consumer emerged from the consumer movement and why it is important. The CBSE revision notes offered by Extramarks will also provide details of a few organisations that assist consumers in several ways. Students can study from these notes to understand all the topics of Chapter 5 covered in NCERT books.

Expert teachers have written Chapter 5 Economics Class 10 Notes in accordance with the latest CBSE syllabus. These notes will assist students in comprehending the concepts and revising important questions during their last-minute preparation. In addition to revision notes, Extramarks also provides CBSE sample papers and CBSE past years’ question papers. Students can practise sample papers regularly to understand the exam pattern and develop time management skills to score well in the exam.

CBSE Class 10 Social Science Economics Revision Notes for the Year 2022-23

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Access Class 10 Social Science (Economics) Chapter 5 – Consumer Rights Notes

Consumer

A consumer is someone who buys something and uses it for personal purposes. A consumer may only utilise the good, product, or service for their own personal use; they are not permitted to resell it. A customer can be an individual or a group of people who consumes the product with his or her permission. In other words, an individual who uses the goods or services is referred to as a consumer.

Consumer in the Marketplace

• Consumers have spread apart despite being in large numbers because the market is not always fair. This enables a small but incredibly powerful group of producers to take advantage of consumers.
• Informal moneylenders are an example of how consumers are exploited. 
• Markets are fundamentally unfair since there are a few powerful, large producers and a large number of small, unconnected consumers. Large firms find it easier to use dishonest business practices and spread false information through advertising and financial expenditures.
• With their tremendous financial and social connections, they could make up a story that would be in their favour regardless of the truth. For example, businesses advertise milk powder as the best supplement for infants, even better than breast milk, and tobacco advertisements, which are harmful to people’s lives.
• Vendors may also take advantage of clients by adulteration and other unethical behaviour, such as using inaccurate weight measurements.

Consumer Movement

The public was infuriated with the widespread production malpractices. There were no laws or standards in place that penalised such public behaviour.

The consumer was accountable for making an informed decision and refrained from purchasing from people or things with whom they had a negative encounter. Widespread opposition to these practices gave rise to consumer movements.

The consumer movement emerged as a “social force” in India to protect and advance consumer interests in the face of unethical and unfair trade practices. As a result of these efforts, the Indian government enforced the Consumer Protection Act of 1986, also known as CORPA.

Consumer International

In 1985, the UN adopted the UN Guidelines for Consumer Protection. This was a mechanism for governments to pass consumer protection legislation and for consumer advocacy organisations to pressure their governments to do so. Globally, this has served as the cornerstone of consumer activism.

Consumer Rights

There are several consumer rights listed in the constitution.

• Right to Safety: Many products and services pose a risk to consumers’ safety and can be quite harmful if not used properly. Given the seriousness of the issue, ensuring consumers are safe is essential.

• Right to be informed: Consumers have the right to know about the commodities they purchase. They can request a refund or replacement if a product does not conform to the information supplied.

• Right to choose: Consumers have the right to select the product they would like to purchase. They cannot be forced to purchase something they do not want.

• Right to seek redressal: A consumer has the right to seek a remedy if a producer has exploited him. 
• Right to represent: If a dispute cannot be settled between a customer and a seller, the customer may seek a remedy at the local consumer court.

Justice for Consumer

• Under the COPRA, consumer courts were established to provide justice to consumers whose rights had been violated.
• Consumer courts are three-tier quasi-judicial entities.
• A district-level court that hears matters involving claims up to Rs. 20 lakh is called the District Forum.
• A state-level court that hears matters involving claims of between Rs. 20 lakh and Rs. 1 crore is called the State Commission.
• A national-level court that hears matters involving claims above Rs. 1 crore is called the National Commission.

How to Stay Informed

• We can make informed decisions once we are aware of our rights when purchasing various goods and services.
• The enactment of CORPA led to the establishment of separate Consumer Affairs divisions in the federal and state governments. The ISI, Agmark, or Hallmark logo gives consumers the assurance of high quality when purchasing goods and services.

Advancing the Consumer Movement

India is one of the few nations with dedicated courts for consumer redress. On December 24, National Consumers’ Day is observed in India. After more than 25 years since the creation of COPRA, consumer awareness is continuously rising in our nation. For the consumer movement to move forward quickly, people need to make a voluntary effort and actively participate in it.

Important Questions and Answers

Class 10 Economics Notes Chapter 5 includes a collection of important questions and answers. Studying and revising these important questions and answers will boost students’ preparation and help them achieve good marks in board exams. In addition to important questions, revision notes provided by Extramarks for all subjects include CBSE extra questions and formulas.

Revision Notes for Class 10 Economics Chapter 5 Notes – Consumer Rights

The eight consumer rights that follow the UN guidelines and are covered in Class 10 Chapter 5 Economics Notes are as follows:

• The Right to Safety 
• The Right to Be Informed
• The Right to Choose
• The Right to Be Heard 
• The Right to the Satisfaction of Basic Needs 
• The Right to Redress
• The Right to Consumer Education 
• The Right to a Healthy Environment 

Project on Consumer Rights on Class 10 CBSE: Exploitative Factors

Several factors that caused the exploitation of consumers are as follows:

• Limited Information: Since the country is capitalist, any service or product can be produced by the seller. Furthermore, a consumer may choose poorly and incur a financial loss due to insufficient knowledge about the specific product.
• Limited Supplies: Consumer exploitation also occurs when a particular commodity is sold in a small quantity, and the seller is free to demand any amount of money from the customer. 
• Illiteracy: One of the most significant causes of consumer exploitation is illiteracy. Consumers are directly impacted since they are taken advantage of because they lack sufficient product understanding.
• Limited Competition: When a single producer is given complete control over a good, it prevents the good from reaching other sellers, which leads to price manipulation.

Consumer Movement

Consumer Movement Growth in India

Like other nations, India, too, has its consumer movement group. It was created to defend and promote consumers’ interests against unethical, unfair, and fraudulent practices. Initially, it characterised manufacturers and traders as people who would maximise their profits at the expense of consumers. The Consumer Protection Act 1986, or COPRA, is the consumer movement act in India.

Did You Know?

• National Consumer Rights Day is celebrated every year on 24th December as the Consumer Protection Act was implemented on this day in 1986.
• World Consumer Right Day is observed annually on 15th March as a day of solidarity and celebration.

• Before purchasing a product, consumers must look into the information printed on the back, which includes ingredients, price, batch number, date of manufacture and the expiry date.