Consumer Product Safety Commission free essay sample

Better business bureau (BBB)-Non-profit organization is sponsored by local business. It offer a variety of consumer services at no charge to help with consumer complaints. lt can provide consumer education materials, answer consumer questions, and provide general information about a companys consumer complaint record. Food and drug administration (FDA)-Federal agency that was formed to set and enforce safety standards for food, drugs, and cosmetics. They have the authority to stop the sale of an item under their Jurisdiction, if it is found to be harmful or azardous. They may also require safety warnings to be placed on harmful or hazardous products. This is the agency which tests new drugs and medications before they are put on the market. Consumer product safety commission (CPSC)-this is a federal agency that was formed to set and enforce safety standards such as household appliances, toys, and tools. lf a product under the Jurisdiction of the CPSC is found to be harmful or hazardous, they can prevent that product from being sold, or they can require the manufacturer to repair or replace the product. We will write a custom essay sample on Consumer Product Safety Commission or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The CPSC will also investigate complaints from consumers about products. Federal trade commission (FTC)- this is a federal agency that was formed to protect consumers against false advertising, illegal sales schemes, and all unfair trade practices. Unfair trade practice- any business practice which is considered unethical or illegal Supply- the amount of goods and services available for sale at various prices at stated times Second-A product that does not meet the standard requirements. t is sometimes abeled irregular and may contain minor flaws or imperfections. Service-work performed to meet the needs of those buying the work, such as repair work, personal grooming services, house cleaning, and transportation. This also includes the professional services of doctors, lawyers, teachers, etc. Producers-Those who provide the supply of goods and services to meet consumer demands. Monopoly-A market situation in which only one organization produces the entire output of an industry or sell s a product or service for which there is no substitute. Needs-The basic items a person must have to survive. Impulse buying-unplanned consumer purchases, usually done on the spur of the moment-usually involving items on display or at reduced prices. Comparison shopping-Looking at different brands and models of the same item in various stores to compare price, quality, features, and store services before buying. Name brand-a brand name that is widely recognized and sold in many different stores. Because of extensive advertising, the name is associated with quality. Store brand-a brand owned by a particular store or chain of stores,the store will either manufacture their own product and put their name on it, or purchase the product from a manufacturer with the right to place their own name on the product. Generic brand-surplus products purchased from many different manufacturers and labeled with plain white and black labels stating what the product is and giving necessary information. Since the product comes from many different manufacturers, the quality varies greatly.