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The Commission was established by the Federal Competition and Consumer Protection Act (FCCPA) 2018. among others, develop and promote fair, efficient and competitive markets in the Nigerian economy, facilitate access by all citizens to safe products, and secure the protection of rights for all consumers in Nigeria.
Sale of Goods Acts (with variations) regulate the sale of goods in several legal jurisdictions including Malaysia, New Zealand, the United Kingdom and the common law provinces of Canada. [ 1 ] The Bill for an Act with this short title will have been known as a Sale of Goods Bill during its passage through the relevant legislative process .
All other types of competition come under imperfect competition. Monopolistic competition, a type of imperfect competition where there are many sellers, selling products that are closely related but differentiated from one another (e.g. quality of products may differentiate) and hence they are not perfect substitutes. This market structure ...
Nigeria ranks sixth worldwide and first in Africa in farm output. [64] The sector accounts for about 18% of GDP and almost one-third of employment. Though Nigeria is no longer a major exporter, due to local consumer boom, it is still a major producer of many agricultural products. [65] Further agricultural products include palm oil and rubber.
05.4 Glassware, tableware and household utensils 05.5 Tools and equipment for house and garden 05.6 Goods and services for routine household maintenance 06 Health 06.1 Medicines and health products 06.2 Outpatient care services 06.3 Inpatient care services 06.4 Other health services 07 Transport 07.1 Purchase of vehicles
The marketer E. Jerome McCarthy proposed a four Ps classification (product, price, promotion, place) in 1960, which has since been used by marketers throughout the world. [39] Koichi Shimizu proposed a 7Cs Compass Model ( corporation , commodity , cost , communication , channel , consumer , circumstances ) to provide a more complete picture of ...
A busy market in Mile 12, Lagos, Nigeria. Retail trade consists of the sale of goods or merchandise from a very fixed location [3] (such as a department store, boutique, or kiosk), online or by mail, in small or individual lots for direct consumption or use by the purchaser. [4]
There are legal definitions. For example, the United States' Consumer Product Safety Act has an extensive definition of consumer product, which begins: CONSUMER PRODUCT.--The term ‘‘consumer product’’ means any article, or component part thereof, produced or distributed (i) for sale to a consumer for use in or around a permanent or temporary household or residence, a school, in ...