legislation and business

Question 1

what is business legislation

Answer 1

when gov makes laws in order to control business actions in order to protect the needs of stakeholders

Question 2

what is consumer law? give two examples

Answer 2

• designed to protect consumers from businesses which try to exploit them
• protects when they purchase products
• provides help if they are treated unfairly

Consumer rights act 2015
trade descriptions act 1968

Question 3

what was the consumer rights act 2015

Answer 3

goods must fit their description

must be of satisfactory quality

be fit for their specific purpose

Question 4

what was the trade descriptions act 1968

Answer 4

made it an offence to make a false description about any goods or services supplied

Question 5

4 benefits of consumer legislation for the business

Answer 5

• improved rep in marketplace, leading to increased sales
• no costs of repair and replacement/less administration costs
• avoid high fines which could be millions
• avoid bad publicity

Question 6

4 drawbacks of consumer legislation for the business

Answer 6

• higher quality raw materials could be required
• additional precaution and processes may be needed
• increased quality control or assurance may be needed
• training may be required to ensure employees are able to produce quality products