Learn about consumer protection law. Understand what consumer protection, consumer law, and consumer protection law are. Also, see an example of...
History of Consumerism The term ''consumerism'' was created by Sidney A. Reeve, an engineer and an economist, in his book Modern Economic Tendencies, written in 1921. He was referring to the fact that businesses would have to appeal to the interests and desires of the consumer to sell thei...
What this industrious adolescent understood intuitively is the core of good business: a strong customer acquisition strategy that identifies a market, an opportunity, and a product tailored to both. Here's how to take a page from Dave's book and build an effective game plan for bringing in a...
average consumerDivergence in European consumer law is increased by the different approaches to 'average consumers' found in national laws and in EU law. The 'average consumer' concept of EU law relies on the ability of consumers to make rational decisions. In accordance with this prototype of ...
Consumer Goods Sales Law This area of law deals with the Uniform Commercial Code, a set of laws covering contracts, fraud, leases, and secure transactions. Business lawyers often specialize in applying these laws to ensure companies comply with the law and advise them on best practices. ...
When Airbnb.org, the not-for-profit arm of the home-sharing platform, pledged to accommodate 100,000 Ukrainian refugees internationally, Airbnb’s legal team helped facilitate the initiative. The lawyers designed legal protections for hosts and guests and used their network of law firms to connec...
Business of law Risk management © Erdem Sahin/EPA-EFE/Shutterstock Standout World Bank: Winner Originality: 8; Leadership: 8; Impact: 9; Total: 25 Historically, vulnerable and poorer families in Turkey have been unable to access its mortgage market to retrofit or rebuild housing that is at...
An example of the law of demand would be that if the price of a chocolate muffin increases, then the demand for it will decrease. Consumers may not attach as much value to purchasing a chocolate muffin as the price goes up. They can also turn to substitute goods, such as chocolate crois...
Finally, because each individual values goods differently and according to thelaw of diminishing marginal utility, the distribution of final consumer goods in an economy is efficient or inefficient. Distributive efficiency is when the consumer goods in an economy are distributed so that each unit is ...
Understanding the Law of Supply The chart below depicts the law of supply using asupply curve, which is upward sloping. A, B, and C are points on the supply curve. Each point on the curve reflects a direct correlation between quantity supplied (Q) and price (P). So, at point A, the...