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Ethics problem

Gaurav Singh (student) (496 Points)

18 October 2011

Can please anyone explain me the differences between conumer interest and public interest.I read in study mat but unable to understand it.

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CA VISHAL RANA,CS,B.Com,AMFI (Chartered Accountant in Whole Time Practice) (4354 Points)
Replied 18 October 2011

CONSUMER INTEREST HAS LIMITED SCOPE RATHER THAN PUBLIC INTEREST.....BECAUSE REASON IS THAT CONSUMER INTEREST IS "SAFETY OF ONLY CONSUMER WHO CONSUME THE GOODS PURCHASED BY HIM OR BY ANOTHER ONE".......OR PUBLIC INTEREST "SAFETY, OF WHOLE SOCIETY(PUBLIC)...IN CONSUMER INTEREST VALUE IS GIVEN ONLY TO CONSUMER...IN PUBLIC INTEREST WHOLE SOCIETY....CONSUMER ALSO COVERED IN THE SOCIETY OR PUBLIC

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Shatabdi (AUDIT ASSISTANT) (48 Points)
Replied 18 October 2011

DIFFERENCE BETWEEN CONSUMER INTEREST AND PUBLIC INTEREST

POINT OF DIFFERENCE	CONSUMER INTEREST	PUBLIC INTEREST
Meaning	The areas in which the consumers as a whole are benefitted is called consumer interest.	The areas in which the “society as a whole” has some interest is called public interest.
Members	Consumer is a member of a broad class of people who purchase, use, maintain & dispose of product & services.	Society is a collection of subsystems, e.g. consumers, manufacturers, distributors, input suppliers, service providers, etc.
Factors	Consumers are affected by pricing policies, financing practices, quality of goods & services and various trade practices.	Public interest reflects the morals during period & also the established interest of the society.
Scope	Consumer interest is restricted in scope as it is only a sub-system of a larger system i.e. general public/society.	Public interest is wider in scope in comparison to consumer interest.
Examples	Formulation of Competition Act, Regulation of Consumer Protection Councils, Consumer Courts etc.	Maintenance of Law & Order, Providing for Defence of the country etc.