Buying and selling within markets requires knowledge of the corresponding rules and regulations while both businesses and consumers need to be capable to complying with these. Consumer transactions are covered by consumer protection legislation. Consumer transactions are those between a private individual and a business. Regulations govern aspects such as contracts, marketing and debt collection. The purpose of consumer legislation is to protect consumers’ interests.
Consumer legislation skills enable consumers to deal with commercial markets in a responsible manner. The key competence for a consumer is awareness of the rules and regulations when buying products and services. These skills are closely related to ethics, the ability to acquire and communicate information as well as technology skills.
Learners will act responsibly in the commercial market sector and know their rights in connection with consumer transactions. They can assess the safety and quality of products and services and comply with operating instructions and warnings.