Consumer Protection and Agencies in Guyana

Flashcards covering vocabulary, economic theories, quality dimensions, ethics, and regulatory agencies related to consumer protection, with a focus on Guyana.

Consumer

Someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing.

Consumerism (Movement)

A movement that began in the $1950$s pushing for increased rights and legal protection against malicious business practices.

Consumerism (Economics)

The theory that increasing the consumption of goods and services purchased in the market is always a desirable goal and that a person's wellbeing depends on material possessions.

Conspicuous Consumption

A term from Thorstein Veblen's book The Theory of the Leisure Class ($1899$) describing consumption used to show one's social status, especially through expensive gear.

Planned Obsolescence

A business practice where products are designed to be less durable to displace competition and encourage repeat purchases.

Product Quality

The totality of characteristics and features of a product, including composition, design, functionality, and durability, that meets or exceeds consumer expectations.

Performance

One of the $8$ dimensions of quality referring to a product’s primary operating characteristics, such as handling in an automobile.

Features

The additional characteristics or \"bells and whistles\" of products that supplement their basic functioning.

Reliability

A dimension of quality reflecting the probability of a product malfunctioning or failing.

Conformance

The extent to which the product or service meets established standards.

Durability

A measure of product life.

Serviceability

A dimension of quality referring to the speed, courtesy, competence, and ease of repair.

Aesthetics

A subjective factor referring to how a product looks, feels, tastes, or smells.

Perceived Quality

A subjective inference made by the consumer based on a variety of tangible and intangible product characteristics.

Contractual Theory

An ethical theory focusing on the agreement between the firm and the customer, requiring compliance with sale terms and avoidance of misrepresentation.

Due Care Theory

An ethical theory focusing on the relative vulnerability of the customer and the firm's responsibility to avoid customer injury due to their superior expertise.

Social Costs View

An ethical view suggesting that if a product causes harm, the firm should pay the costs of injury even if they met contract terms and exercised due care.

Total Quality Management (TQM)

An organization-wide activity and continuous quest for excellence by creating skills and attitudes to prevent defects and satisfy customers totally.

Six Sigma

A process using statistics and data analysis to reduce manufacturing defects to no more than $3.4$ defects per million units or events.

Lean Six Sigma

A team-focused approach that combines Six Sigma tools with lean manufacturing to eliminate waste of resources, time, effort, and talent.

Kaizen

A Japanese term meaning \"improvement,\" referring to continuous process improvement activities involving all employees and management.

ISO 9000

A set of international standards on quality management and quality assurance that have a customer focus.

Consumer Bill of Rights

Outlined by President John F. Kennedy in $1962$, establishing the rights to be informed, to choose, to safety, and to be heard.

Right to Redress

The right to receive a fair settlement of just claims, including compensation for misrepresentation, shoddy goods, or unsatisfactory services.

Consumer Affairs Act No.$13$ of $2011$

A Guyanese Act designed to promote and protect consumer interests regarding the supply of goods and services, including warranties and rights to return goods.

Competition & Fair Trading Act No.$11$ of $2006$

An Act in Guyana to promote competition and prohibit the abuse of dominant positions, and to protect consumers from unfair and deceptive sale practices.

Bait and Switch

A deceptive technique where a company lures consumers with a low price for one product but actually sells them a different, higher-priced product.

Price Gouging

A practice where a seller steeply increases the price for goods or services, usually after a demand or supply spike.

Competition and Consumer Affairs Commission (CCAC)

The body charged with administering and enforcing the Consumer Affairs Act and investigating consumer complaints in Guyana.

Guyana National Bureau of Standards (GNBS)

A semi-autonomous governmental organization established in $1985$ responsible for standards, quality, and metrology in Guyana.

Government Analyst – Food & Drug Department (GA-FDD)

A department under Guyana's Ministry of Public Health mandated to ensure that food, drugs, cosmetics, and medical devices are safe and meet quality standards.

Public Utilities Commission (PUC)

The regulatory body in Guyana that monitors and reviews rates and standards of service for utilities like water and electricity.