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Your Financial Future Level 2

Your Financial Future Level 2. UK Edition. September 2011. Activity 11: Understanding Your Rights as a Consumer. A consumer is anyone who buys something.

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Your Financial Future Level 2

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  1. Your Financial FutureLevel 2 UK Edition September 2011

  2. Activity 11: Understanding Your Rights as a Consumer • A consumer is anyone who buys something. • Consumer protection laws seek to stop consumers from being taken advantage of by businesses. In the UK the Office of Fair Trading (OFT) is responsible for enforcing consumer protection laws. Bank of America Merrill Lynch

  3. Activity 11: Understanding Your Rights as a Consumer Businesses cannot: • Say they have lower prices than their competitors, if it is not true. • Say they are offering something for “free,” unless it really is free. It is illegal, for example, to offer a free music download when you buy hair gel, but then raise the price of the hair gel to cover the cost of the download. The Office of Fair Trading (OFT) watches businesses to be sure they do not use “unfair or deceptive practices” or use misleading or false advertising. Here is a link to the OFT Consumer Advice website: http://www.oft.gov.uk/consumer-advice/ Bank of America Merrill Lynch

  4. Activity 11: Understanding Your Rights as a Consumer • Complete the Consumer Rights worksheet. This should take approximately 15-20 minutes. • I will ask for volunteers to share their answers with the class. Bank of America Merrill Lynch

  5. Activity 11: Understanding Your Rights as a Consumer • Review: • Discuss the concept of truthful advertising. • Give examples of how government protects consumer rights. • Give an example of a product claim that sounds “too good to be true.” ? Bank of America Merrill Lynch

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