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Purchasing Practices

A. Market survey This involves the study of prices of commodities. This is done when the researcher carries out a survey by visiting a number of shops or markets. The researcher collects the prices of goods from different places and at different periods of the year. Uses of a market survey 1. During a market…

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Community Programmes

Cooperative societiesCooperative societies are business organisations formed by people who have similar interests. These are of three types: A. Producers cooperativesThese are associations of producers of products who come together in order to protect the interest of their association, for example, farmers. They sell their products to the society and they share the profits. B.…

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Government Agencies and Regulations

In Nigeria and many developing countries, governments establish consumers’ agencies and regulations. These bodies and regulations set standards for manufactured goods and services, examine commodities put on sale to ensure that certain minimum standards are met or maintained, and that goods are safe for consumption. Next, we will examine some government-established standards setting consumers’ agencies…

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Consumer Programmes

There is a need to protect consumers from fraudulent businessmen and their selling practices. This protection is necessary for the following reasons: i. Advertisement may be misleading and this can cause consumers to make unsuitable purchases.ii. Traders or dealers of specific commodities often form associations to protect their own interest and maximise profit at the…

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Principles of Consumer Education

As a result of the advancement in science and technology, consumers are bombarded with so many goods and services. There is also competition as to which products are better. With highly sophisticated advertisement, most consumers are confused as to what to choose and what not to choose. Consumer education. therefore, is the process of providing…

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