The Informed Consumer Standard Is Used in the Consumer Protection

question 86

True/False

The Informed Consumer Standard is used in the consumer protection courts in Canada and it places the onus of making the right decisions on the buyer who is expected to have substantial knowledge of the industry and its products.

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Definitions:

Marketing Mix

A combination of factors that can be controlled by a company to influence consumers to purchase its products, typically identified as product, price, place, and promotion.

Corporate Social Responsibility

An approach to business that involves incorporating considerations of the environment and social issues into operational processes and stakeholder interactions.

Environmentalism

The concern for and action towards protecting the environment against pollution and exploitation, aiming at promoting sustainability.

Stakeholders

Stakeholders are individuals, groups, or organizations that have an interest, concern, or stake in a project, decision, or outcome, and whose inputs can affect or be affected by that project.