Income and Expenditure:
Household Income – Types, Sources, Supplementation of family income, use of family income, budgets, maintaining household accounts
Factors influencing expenditure pattern
Family savings and investments- need ,principles, channels of investment, tax implications
Consumer credit- need, sources, credit cards, Housing finance
Personal finance management – tax implications, calculation of personal income tax
Guidelines for wise buying practices
Consumer in India:
Definition of a consumer and consumer behaviour
Consumer Needs – Needs and Goals of consumer Interdependence of needs and goals.
Characteristics and Types of consumer needs – physiological, safety, social, egoistic needs, needs for self-actualization.
Consumer choice – Need for intelligent choice .Factors influencing consumer choice.
Purchase Decision of a Consumer- Meaning of purchase decision of a consumer. Guidelines for wise purchase, consumer problems-types, consumer Aids – Advertisement, brands, Trademark .Quality mark, labels, packaging.
Consumer Problems and Education:
Role of consumers in the economy, National Income, Per Capita Income, Household wise distribution of income
Changing nature of the business world -e-commerce, e-business
Types of consumer problems – products and service related, investment and infrastructure related, Causes and solutions
Consumer education and empowerment
Unit – IV
Consumer rights and responsibilities
Consumer organizations – origin, functioning, role and types.
Consumer cooperatives – role, history and growth in India, PDS KendriyaBhandars.
Basic legislative framework for consumer protection in India, Consumer Protection Act 1986 COPRA, Alternative redressal mechanisms, Mediation centres
Standardization and quality control measures: ISI, FPO, AGMARK, ISO, Eco mark, Wool mark, Silk mark, Cotton mark, Handloom mark, BEE star labelling and others
Regulations on Food Labeling and Claims: FSSAI, Codex for consumers