PRIYADARSHINI COLLAGE OF ENGINEERING

NAGPUR

INFORMATION TECHNOLOGY
Assignment on consumer
affairs
Prepare by

RAJ RAHANGDALE
Section: A
Roll No. 153
Year/Sem: 2yr/4Sem
Q.1 What does Retail and Whole Sale Price
mean? Explain in detail.

Ans.
THE RETAIL PRICE:
The retail price is what consumers pay for the finished
product when it is sold. These customers don't
purchase the item to resell it but to use it. The
fundamental objective for a retailer when setting a
price is to maximize the profit while setting a price that
customers will be ready to pay.

WHOLESALE PRICE:
Wholesale price refers to the cost of a product from
the manufacturer or distributor to the retailer, it plays
a vital role in determining the final retail price of a
product and the profitability of a business.

These prices are generally lower than the retail prices

as the retailer aims to make a profit. The difference
between the wholesale and retail prices is known as
the markup.
Q.2 Differentiate between Consumers and
Customers with appropriate examples.

CUSTOMER CONSUMER
Customer is the one who is Consumer is the one who is
purchasing the goods. the end user of any goods
or services.

Customer can purchase the Consumers are unable to

good and is able to resell resell any product or
service.

Customers need to For a consumer purchasing

purchase a product or a product or service is not
service in order to use it. essential

The motive of buying is The motive of buying is only

either for resale or for for consumption
consumption
Must be paid by customer May or may not be paid by
the consumer

Individual or Company Individual, family or group

Q.3 Explain the right of consumers according to
consumer Act 1986

The Consumer Protection Act of 1986 in India enshrines several rights for
consumers:

Right to Safety: Consumers have the right to be protected against goods

and services that are hazardous to health or life.

Right to Information: Consumers have the right to be informed about the

quality, quantity, potency, purity, standard, and price of goods or
services to make informed decisions.

Right to Choose: Consumers have the right to choose from a variety of

goods and services at competitive prices, with access to a range of
options.

Right to be Heard: Consumers have the right to be heard and to have

their grievances addressed, ensuring their interests are represented in
decision-making processes.

Right to Seek Redressal: Consumers have the right to seek redressal

against unfair trade practices or exploitation, including compensation for
damages.

Right to Consumer Education: Consumers have the right to be educated

about their rights and responsibilities to make informed choices and
effectively participate in the market.

Right to Healthy Environment: Consumers have the right to live and work
in an environment that is safe and conducive to their health and well-
being
Q.4 What are the Consumer Redressal Agencies?
Explain types of Redressal Agencies.

CONSUMER DISPUTE REDRESSAL AGENCIES

It has jurisdiction to entertain complaints where value

of goods and services and compensation claimed
exceeds Rs 20 lakhs but does not exceed more than
Rs1 crore. National Consumer Dispute Redressal
Commission established by the Central Government.

The Act provides for a three tier Consumer Disputes

Redressal Agencies. These are: District Consumer
Disputes Redressal Commission in the District, State
Consumer Disputes Redressal Commission at the state
level and the National Consumer Disputes Redressal
Commission at the national level.