Question

Discuss the benefits of consumer education.

Answer 1

1. Benefits to Consumers:
   • Encourages critical thinking so that consumer can function more efficiently in the market place. 
   • Promotes self-confidence and independence in consumers. 
   • Imparts life skills needed for success in everyday living. 
   • Fosters values such as saving money, planning budgeting, paying bills, differentiating between needs and wants.
   • Improves the quality of life and of the environment.
2. Benefits to Business:
   • Satisfies consumers
   • Increases sales
3. Benefits to Society:
   • Enhances awareness of public
   • Promotes stability in society