Our Revision Notes for GSEB Class 10 Social Science Notes Chapter 18 Price Rise and Consumer Awareness summarises the key points of a chapter and useful resource to prepare effectively for the upcoming board exams.
Price Rise and Consumer Awareness Class 10 GSEB Notes Social Science Chapter 18
Price Rise and Consumer Awareness Class 10 GSEB Notes
→ Continuous and constant rise in price in different fields of economy at a high rate is called price rise.
→ Price rise along with stability is beneficial for economy.
→ Excessive amount of money is used on comparatively less commodities, this kind of price rise condition is called inflationary situation.
→ Due to sharp increase in total demand of country as compared to supply, resulted continuous price rise.
Various reasons are responsible for price rise:
- Increase in monetary supply
- Population growth
- Increase in export
- High price of raw material
- usage of Non-registered currency
- Price rise by government
- Natural factors
- Smuggling, Hording and Black Marketing.
→ Lives of poor and middle class people becomes miserable. Rate of savings and capital generation decreases due to price rise.
→ Foreign investment decreases.
→ Production of necessary goods decreases so scarcity is created.
→ Cost of exports decrease and import increases.
→ Living standard of poor or middle classes deteriorates because of price rise.
→ Total expenditure keeps on increasing continuously in economy, but production of goods does not increase with same pace. This results in price rise.
Following measures are taken to control price rise :
- Monetary Measures
- Fiscal Measures
- Control on capital investment
- Price regulation and rationing
- Administrative price mechanism
→ The system wherein the goods and services that the consumer buys in lieu of money are of good quality, proper weight and a reasonable price is known as consumer protection. Ralph Nadar started a movement in America to bring consumer awareness. Thus, his called pioneer of consumer movement.
→ Consumer is exploited by providing commodity of less weight than the one printed on the packet, by providing slightly defective or fake commodity, overpricing, by providing construction of goods or services as per predetermined conditions.
→ Consumer awareness is consumer protection. In India, a description regarding consumer protection, because of misbehavior towards consumer and their exploitation, was made for the first time in Kautilya’s “Arthshastra” which describes misbehavior of trade towards consumer and his exploitation.
→ American President John Fitzgerald Kennedy presented four rights of the consumer on March 15, 1962 in the Parliament of America.
→ International organization ‘Consumer International’ published notification showing rights of consumer on 15th March, 1983. So, is observed as “World Consumer Day” every year.
→ Afterwards, in its meeting on 16th April, 1985, the UN declared eight basic consumer rights in its bill “United Nations Guidelines for Consumer Protection”.
→ The Indian Parliament formed the National Consumer Protection Act, 1986” which was signed and permitted by the President on 24th December, 1986. So every year, 24th December is celebrated as ‘National Consumer Right Day’ in India.
→ Gujarat Government had implemented “Gujarat Consumer Protection Act, 1988” on 18th February 1988. In 1993 and 2002, many important amendments have been implemented in India in Consumer Protection.
→ Many provisions have been made under Consumer Protection Legislation, 1986.
Rights of consumers:
- Right to safety
- Right to get information
- Right to choose
- Right to be heard
- Right to seek redressal
- Right to consumer education
Duties of consumers:
As the consumer are cautious about their rights, in the same way they should reflexes towards their responsibilities or duties also.
→ Following four types of measures have been undertaken for consumer protections. Under National Consumer Protection Act, 1986 ‘Central Consumer Protection Councils’ has been set up. Similarly, the State Consumer Forum has been set up at the state level. The National Consumer Disputes Commission has created the structure of a three-tier court and framed norms for actions of consumer forum or Commission.
→ As per this Act the government recognized consumer societies have been established at taluka, district, state or national level.
→ Under Public Distribution system, essential commodities of good quality are provided in fixed quantity at subsidized rates, to the poor at regular interval from Fair Price Shops.
System Certifying Weights and Measures and Purity of Goods:
For health and society of consumers, government has set up many legal institutes which perform the task of checking the quality, quantity and purity of produced goods and certifies them.
→ For that Government of India established ISI in 1947 to regulate quality.
→ The agriculture products like forest products, horticulture and animal products are given the mark of AGMARK.
→ Gold ornaments are given BIS marks along with purity number.
→ FPO is used for Jam, fruit juice, squash, fruits or vegetables packed in tin.
→ Woolmark is given to woollen products and dress.
→ MPO is given to meat, mutton and products made from them.
→ HACCP is given to processed food.
→ ECO is given to soap, detergent, paper, lubricating oil, packing material, colour chemicals, power coating, battery cosmetics, goods used in place of wood, leather and plastic products.
→ Two organizations i.e. ISO and CAC are working at international level for standardization of products.
→ The consumer can file a complaint if the item or services is not good in quality purify, type, etc.