Lecture 26 - Consumers as Stakeholders No business can...

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Consumers as Stakeholders No business can survive without purchasers However, markets can fail consumers Monopolies Lack of information Consumers fail to make rational decisions
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Consumers as Stakeholders Product Safety Ladders Circular Saws or Meat Grinders Polyester All-In-One Sleep Suits Infant Car Seats Playpens Asbestos Aerosol Cans Breast Implants Automobiles Tires Plastic Bags
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Consumers as Stakeholders Who Says How Far A Manufacturer Must Go: The Regulatory Framework The Consumer Product Safety Act Everything outside of food, drugs, cars Run by consumer product safety commission The National Highway Transportation Safety Agency (NHTSA) The Federal Food, Drug, and Cosmetic Act
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The Consumer Product Safety Act Passed in 1972 Consumer Product Safety Commission (CPSC) Sets mandatory uniform safety standards for products and works with industry to establish voluntary standards Bans unsafe products
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Lecture 26 - Consumers as Stakeholders No business can...

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