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2006-11-04 16:05:40 · 2 answers · asked by deepna c 1 in Social Science Economics

2 answers

This ones tricky; I'd have to say there are a number of rights and duties.

Certain rights:*This is for the U.S, i am not too sure about other countries because of ethics and laws governing them*

-Right to know what you are buying. The law side of economics calls this the seller's 'duty to disclose' any safety matters or problems that are diagnosed prior to buying.

-Right to choose the seller. This is especially true because of monopolies. This is a right given by the government, again, because they regulate monopolies, even natural ones. So most of the time, you should have the freedom to choose what product you want and who you'd like to buy it from.

-Right to breach a contract. This is debatable and is usually determined in court. If it's an efficient breach or not, that's a different story. But you should have the right to say no more contract, provided you are willing to deal with consequences.

-With that said, knowledge of consequences and no unconciousable (unthinkable, i'd like to think of) punishment or fine. This is widely debatable depending on ethics, industries, etc. You should know your rights and what will happen and know that there are remedies for violation.

-You have a right to be intolerant to bad sellers, as a consumer. You can take your money elsewhere (this goes hand in hand with the other rights. As most of them cross overeach other time and time again under this topic).

Duties:

-You have the duty to inform yourself. If you aren't informed, that's not a valid excuse. Seller's have the duty to disclose the information, and consumers have the choice/DUTY (rationally) to seek out that information and understand it.

-You have the duty to aid the ease of transaction. Friendly, efficient, transactions are always a blessing in the world of economics and you don't want the law or the fact that your a total jerk to stand in your way of buying goods (hey, it happens! i mean, the U.S put an embargo on Cuba!)

-You have the duty to seek out goods. Most of the times, goods are advertised. It is YOUR duty to make the choice and come up with a solution to fit your needs. Again, information is key. Asymmetrical information is a bar to bargaining.

-You have the duty to be cordial, and not overreach. Noone wants to give you something for less than they paid for it, usually. So trying to haggle them down to a lower price (some haggling is okay) is overreaching. Which is also a bar to bargaining in the marketplace.

Hope I could help!

2006-11-05 04:57:03 · answer #1 · answered by wheresheleaves 2 · 0 0

Rights:

* the thing you buy is expected to do what it is required to do, during the period of its warranty. Otherwise you are elegible to have it fixed, replaced or reimbursed for the price you paid for.

Duties:

* you don't use as an accessory to commit a crime

2006-11-05 02:30:48 · answer #2 · answered by Mardy 4 · 0 0

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