NCERT Economics Class 10 | The Consumer In The Marketplace

Topic & sub-topics covered: The Consumer In The Marketplace: Consumer Rights (All single detail notes are exam-oriented).

We have discussed in-depth and exam-oriented pointers that can be asked in the board exam of class 10th about “The Consumer In The Marketplace” which is taken from the NCERT Economics notes for class 10th chapter 5 “Consumer Rights“.

Download the NCERT Economics for Class 10th Chapter 5 Consumer Rights PDF

“Download the NCERT Economics for Class 10th Chapter 5 Consumer Rights PDF” is essential for students. It offers insights into The Consumer In The Marketplace, aiding comprehension of Consumer Rights. Students gain access to in-depth analyses, case studies, and theories, enhancing their understanding.

NCERT Class 10 Economics Chapter 5 Consumer Rights Class 10 Notes PDF

This chapter provides detailed insights into the rights and responsibilities of consumers, the role of consumer protection laws like the Consumer Protection Act (COPRA), and the importance of consumer awareness in today’s market-driven economy. By downloading this resource, you equip yourself with valuable knowledge that helps in exams and empowers you as an informed consumer.

The Consumer In The Marketplace

1. Role in the Market:

• Individuals participate in the market as both producers and consumers.
• Producers work in sectors like agriculture, industry, or services.
• Consumers purchase final goods and services for their needs.

2. Need for Rules and Regulations:

• Rules are necessary to promote development and protect workers in the unorganised sector.
• Protection is needed against high interest rates by moneylenders in the informal sector.
• Regulations are also crucial for environmental protection.

3. Exploitation by Moneylenders:

• Moneylenders may exploit borrowers by forcing them to sell their produce at low rates or sell their land to repay loans.
• Workers in the unorganised sector often face low wages and harmful working conditions.

4. Consumer Protection:

• Individual consumers are often in a weak position in the marketplace.
• Sellers sometimes shift responsibility onto buyers after a sale.
• The consumer movement aims to address and change this situation.

5. Unfair Trade Practices:

• Examples include under-weighing goods, adding hidden charges, and selling adulterated or defective products.

6. Market Manipulation by Large Companies:

• Large companies with significant power can manipulate markets.
• They may spread false information to attract consumers (e.g., false claims about baby milk powder or tobacco products).
• Legal battles have been fought to correct these injustices.

7. Importance of Consumer Protection Laws:

• Ensuring consumer protection through rules and regulations is essential to prevent exploitation and unfair practices in the marketplace.

Next & Previous Topics of NCERT/CBSE Economics Class 10 Chapter 5: Consumer Rights

Topics No.	Topics Name
1	The Consumer In The Marketplace
2	Consumer Movement
3	Consumer Rights
4	Learning To Become Well-informed Consumers
5	Taking The Consumer Movement Forward