Consumer Awareness refers to the understanding and knowledge that a buyer should possess regarding their rights as a consumer and the responsibilities of businesses. It involves being informed about products and services, including their quality, price, safety, and the implications of their use. This awareness helps consumers make more informed decisions, recognize their rights to fair treatment, have access to truthful information, and understand the processes of complaint and redress in case of issues with products or services. The goal of consumer awareness is to empower individuals to protect themselves from exploitation and to ensure they can engage confidently in the marketplace. It encompasses education about advertising practices, the importance of making informed choices, and the impact of consumer behavior on society and the economy.
The Hidden Risks of Takata Airbags In the early 2000s, Takata, a prominent Japanese company, introduced a cost-effective chemical—ammonium nitrate—into their airbags. This decision, while economical, came with severe repercussions,…