Consumer Education

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:

  1. Right to Safety
  2. Right to Information
  3. Right to Choice
  4. Right to be Heard
  5. Right to Redress
  6. 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:

    Vice is its own reward. It is virtue which, if it is to be marketed with consumer appeal, must carry Green Shield stamps.
    Quentin Crisp (b. 1908)

    Our children will not survive our habits of thinking, our failures of the spirit, our wreck of the universe into which we bring new life as blithely as we do. Mostly, our children will resemble our own misery and spite and anger, because we give them no choice about it. In the name of motherhood and fatherhood and education and good manners, we threaten and suffocate and bind and ensnare and bribe and trick children into wholesale emulation of our ways.
    June Jordan (b. 1939)