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    Economics 20.1: Basic Principles of Economics With Applications in Taxation, Agrarian Reform and Consumer Education

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    Omsim
    The document discusses the Philippine Consumer Act of 1988 (RA 7394) which was created to protect consumers, promote their welfare, and establish standards for businesses. It established several government implementing bodies and aims to provide consumer rights, education, and redress. While the Act has benefited consumers, some challenges include adequate funding and potential abuse of protections by some consumers.

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    Economics 20.1: Basic Principles of Economics With Applications in Taxation, Agrarian Reform and Consumer Education

    Uploaded by

    Omsim
    43 views3 pages
    The document discusses the Philippine Consumer Act of 1988 (RA 7394) which was created to protect consumers, promote their welfare, and establish standards for businesses. It established several government implementing bodies and aims to provide consumer rights, education, and redress. While the Act has benefited consumers, some challenges include adequate funding and potential abuse of protections by some consumers.

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    Econ 20 Its Ok

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    The document discusses the Philippine Consumer Act of 1988 (RA 7394) which was created to protect consumers, promote their welfare, and establish standards for businesses. It established several government implementing bodies and aims to provide consumer rights, education, and redress. While the Act has benefited consumers, some challenges include adequate funding and potential abuse of protections by some consumers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    43 views3 pages

    Economics 20.1: Basic Principles of Economics With Applications in Taxation, Agrarian Reform and Consumer Education

    Uploaded by

    Omsim
    The document discusses the Philippine Consumer Act of 1988 (RA 7394) which was created to protect consumers, promote their welfare, and establish standards for businesses. It established several government implementing bodies and aims to provide consumer rights, education, and redress. While the Act has benefited consumers, some challenges include adequate funding and potential abuse of protections by some consumers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    COLLEGE OF ARTS AND SCIENCES

    Department of Economics

    ECONOMICS 20.1
    BASIC PRINCIPLES OF ECONOMICS WITH APPLICATIONS IN TAXATION,
    AGRARIAN REFORM AND CONSUMER EDUCATION
    Academic Year 2015-2016

    INFORMATION
    Weight: Part I of the Semi-Final Examination Name of Student: Emmil Joy B. Pador
    Teacher: Mr Jhon Louie B Sabal, Section:BG
    Assistant Instructor, Department of Economics

    Instructions: This Case Study is the second part of your Semi-Final Examination. This is an individual
    work following the objectives below:
    a. Examine the Philippine Consumer Rights Act by enumerating and explaining the value of rights
    and obligations of a consumer in the incessant search for truth and;
    b. Identify loopholes on the Philippine Consumer rights and initiate relevant recommendations
    using economic tools and concepts
    This is your return demonstration in the class. Please limit only your answers in 3 pages.

    QUESTION ANSWER
    CONTEXT: Protect the interest of the consumer and
    What events prompted the creation of RA 7394? promote his general welfare

    Establish standards of conduct for business and


    industry

    GOALS: protection against hazards to health and safety;


    What are the key goals of RA 7394?
    protection against deceptive, unfair and
    unconscionable sales acts and practices;

    provision of information and education to


    facilitate sound choice and the proper exercise
    of rights by the consumer;

    provision of adequate rights and means of


    redress; and
    COLLEGE OF ARTS AND SCIENCES
    Department of Economics

    involvement of consumer representatives in the


    formulation of social and economic policies.

    STRUCTURE: Department of Trade and Industry (DTI)


    What are the implementing bodies of RA 7394?
    What is the policy making body?
    Department of Agriculture (DA)

    Department of Education (DepEd)

    Department of Health (DOH)

    Bangko Sentral ng Pilipinas (BSP)

    Securities and Exchange Commission (SEC)

    MILESTONES: Consumers now are now given right to have


    What are the positive impact to various sectors, safety form hazardous substances, from redress,
    government and the consumers?
    and etc

    The governments various sectors can now


    undergo research develop and establish quality
    and safety standards, inspect and analyze
    consumer products, to levy, assess, collect and
    retain fees are necessary for the cost of
    inspection, to investigate the cost of and
    investigate product realated deaths.

    CHALLENGES: Some of the issues might be the fund to used


    COLLEGE OF ARTS AND SCIENCES
    Department of Economics
    by different sector and the use of this act in an
    What are the pertinent and emerging issues and evil way by the consumers since this act
    problems encountered in the Implementation of
    the Act? protects them it gives consumer much power
    over other things.

    The act also troubles product producers and


    sellers which are very biased by the act since
    they have to undergo a lot of test and
    inspections before their products would be
    sold and in turn costing them a lot.
    ANALYSIS: The Consumer Act of the Philippines are very
    What are the positive and negative areas of this important and helpful to our community and to
    kind of Act?
    the people that involve to the act of the
    Philippines because we are the consumer and
    they implement the interest of the consumer to
    provide safety and quality.

    The negative areas of the act is that some might


    abuse it because of the ability of the act to
    protect the consumers some of them might
    even use the act to gain something from
    themselves from the things they buy by lie
    about the products are expired or the products
    are hazardous which benefits the costumers for
    their own gain.

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