ECON: CONSUMER RIGHTS & RESPONSIBILITIES + CURRENT WORLD EVENTS

Right to basic needs

Guarantees survival

Right to safety

To be protected

Right to information

To be protected from misleading, fraudulent, and dishonest advertising

Right to choose

Choose products at a competitive price

Right to representation

Express consumer interests

Right to redress

To be compensated with misinformation

Consumer education

Acquire knowledge needed to be an informed consumer

Right to healthy environment

Right to have a clean and sustainable environment

Critical awareness

Ask questions on quality, price, use of goods

Action

Assert ourselves

Social concern

Care for the less fortunate/exploited

Environmental awareness

Understanding how our choices may affect the environment

Solidarity

Switching and shifting to other brands

Affected FDFS?

All foreign digital films operating in the Philippines

VAT percentage?

12%

Sanctions for non-compliance?

Possible penalties and restrictions on operations

Implication to the involved?

Increased tax burden for FDFs and potential price hikes for consumers

Issue against bytedance/tiktok?

Data privacy and international security concerns

US solution?

Proposed ban or forced sale of tiktok’s US sale operations

Bytedance response?

Opposed ban and explored legal options

Likely impact on the involved?

Users may lose access, tiktok may face financial challenges

Tarrif percentage of the US-CANADA-MEXICO tarrif issues?

25%

Reasons for US threat?

Immigration/drug-trafficking problems (Protectionism and concerns over trade imbalances)

Mexico and Canada possible counteractions?

Retaliatory tarrifs or trades negotiations

Possible economic implications?

Potential disruptions in trade, higher costs, economic tensions

MSRP by March 2025?

49 PHP per kilo of rice

MSRP exemptions?

Local rice or premium rice variants

Reason for gradual decrease in MSRP?

Market stabilization and government intervention

Affected places in California?

LA and other affected areas

Is price gouging illegal?

Yes, illegal during emergencies

Implication to wildfire victims?

Increased financial burden for necessary services/needs