Consumer education is the preparation of an individual through skills, concepts and understanding that are required for everyday living to achieve maximum satisfaction and utilization of his resources. It is defined as education given to the consumer about various consumer goods and services, covering price, what the consumer can expect, standard trade practice, etc.
It is part of the formal school curriculum in many places and incorporates knowledge from many disciplines, including but not limited to.
- Economics
- Game theory
- Information theory
- Law
- Mathematics
- Psychology
One magazine devoted to providing consumers with accurate reviews of products is Consumer Reports, not to be confused with Consumers Digest.
- 6 Consumer Rights
In order to safeguard consumer interest, six consumer rights were initially envisioned by consumer rights activists of the West, namely:
- Right to Safety
- Right to Information
- Right to Choice
- Right to be Heard
- Right to Redress
- Right to consumer education
- Advantages of consumer education
- Feedback for the business
- Producers and sellers will not take consumers for granted
- Government response
- Consumer - Producer interaction
Consumer education involves three parties:
- Business
- Consumers
- Government
Read more about Consumer Education: People, Consumer Education Issues
Famous quotes containing the words consumer and/or education:
“The poverty of our century is unlike that of any other. It is not, as poverty was before, the result of natural scarcity, but of a set of priorities imposed upon the rest of the world by the rich. Consequently, the modern poor are not pitied ... but written off as trash. The twentieth-century consumer economy has produced the first culture for which a beggar is a reminder of nothing.”
—John Berger (b. 1926)
“If the education and studies of children were suited to their inclinations and capacities, many would be made useful members of society that otherwise would make no figure in it.”
—Samuel Richardson (1689–1761)