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CONSUMER, MARKET AND SOCIETY
CONTENT- Meaning of Consumer, Market and Society
- Need for Consumer Education
- Importance of Consumer Education
- Consequences of Lack of Consumer Education
Meaning of Consumer
A consumer can be defined as any person or corporate individual that purchases a product for immediate personal use. A consumer is an end user of a product.Meaning of Market
This can be defined as any arrangement (personal or impersonal, formal or informal) which facilitates the exchange of goods and services for money. Market is where buyers and sellers come together to exchange goods and services for payment.Meaning of Society
Society is the collection of people living together in a more or less ordered community. It is an organization or club formed for a particular purpose or activities. It is also a situation of being in the company of other people.Meaning of Consumer Education
consumer education is a process by which consumers get the necessary enlightenment that will help them to make best decisions when purchasing goods and services. It is the preparation of an individual through skills, concepts and understanding that are required for everyday living to achieve maximum satisfaction and utilization of its resources. It is also defined as education given to the consumers about various consumer goods and services, covering price, what the consumers can expect and standard trade practice.You are viewing an excerpt of this lesson. Subscribing to the subject will give you access to the following:
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ClassHall Instructor
Halima Ahmadu
Maryam
Abdul tawwab
Honour Daniel
Wilfred Bassey