Week 4A: Regulation of Consumer Transactions, part. cons. sales of goods

Question 1

Explain the phases of the Product Life Cycle

Answer 1

-Material extrac./ processing–> manufac. –> distribu. –> use –> disp.

Question 2

What are the common discrepencies in Bussiness 2 Consumer relations

Answer 2

-Information asymmetries
-imb. of barg. power
-Overall imbalanced relationship

Question 3

Explain what a consumer is

Answer 3

-Any natural person who is acting for purp.
-which are out. their trade, bus. or profess.

Question 4

Explain what a business is

Answer 4

Any natural or leg. person acting for purp. rel. to their trade, bus. or profess.

Question 5

TRUE or FALSE: the producer has an extra-contractual relationship with a consumer

Answer 5

-TRUE
-no contract, but can have liability

Question 6

TRUE or FALSE: a distributer has an extra-contractual relationship with a consumer

Answer 6

-FALSE ,more direct
-(pre) contract. rel. with a consumer

Question 8

List Regulatory Tools for the regulation of consumer transactions

Answer 8

1) Product Safety Standards
2) Product Liability
3)prohibit. of unf. com. practic.
4) inf. requirements
5) right of withd.
6) cont. terms control
7) remed. 4 non-conformity of goods

Question 9

What EU Law tool ensures product safety?

Answer 9

EU Product Safety Regime

Question 10

What EU Law Tool Ensures producers are held liable for damages?

Answer 10

-EU Product Liability Regime

Question 11

Which EU Law Tool prevents misleading or agressive commercial practices?

Answer 11

-Unfair Commercial Practices Directive

Question 12

Define what Information Requirements are

Answer 12

-Tools which allow people to make an inform. dec. in reg. 2 products and services

Question 13

List the common problems with information requirements

Answer 13

-information overload
-lack of clear remedies, when you’ve been give. product w/ inform.

Question 14

What are the goals of regulating consumer transactions when it comes to sustainable production and consumption

Answer 14

-Circular economy

Question 15

Explain the relationship between consumer protection and environemntal protection

Answer 15

-Conflict
-right to replacement
-highest quality of good at cheapest price
-Compliment
-Right to repair
-listed below

-NB: watch lecture recordings

Question 16

What are the potential regulatory tools which would allow for a compatible relationship between consumer protection and environmental protection

Answer 16

-prohibition of greenwashing
-info. requirements
-repair> replacement
-better regulation of services to stimulate the shared use of goods through servitization