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What are the Consequences of Lack of Consumer Education?
When consumers are not fully aware of their inherent rights, there could be serious consequences.
Below are some of the consequences of lack of consumer education:
1. The consumer may not be competent in making wise decisions.
2. It incapacitates the awareness of the consumer.
3. Lack of consumer education leads to profiteering, since they are completely ignorant regarding the information, on the product they are buying.
4. They could be taken for granted by the producer.
5. They may not have value for their products.
6. It can impede socio-economic development.
7. Consumers may not be aware that they should use the products in a specified way.
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