What caused bill to learn to protect his own interests in buisness

The Consumer Bill of Rights pushed for by John F. Kennedy established four basic rights; the right to safety, the right to be informed, the right to choose, and the right to be heard.

In 1985, the United Nations added four more rights to protect consumers: the right to satisfaction of basic needs, the right to redress, the right to consumer education, and the right to a healthy environment.

Consumer protection consists of laws and organizations designed to ensure the rights of consumers, as listed above.

In 1985, the United Nations in 1985 added four more rights to protect consumers: the right to satisfaction of basic need, the right to redress, the right to consumer education, and the right to a healthy environment.

Consumer protection is the duty of the laws, government agencies, and organizations created to ensure consumer rights.

Competitive markets also promote the interests of consumers under the principle of economic efficiency.

Key Terms

Consumer: Someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing.

right: A legal or moral entitlement.

consumer rights: The legal and moral duties of protection owed to a purchaser of goods or services by the supplier.

Explanation:

Ripka Company

The relevant cost for Ripka to consider in making its decision is:

b. $30,000 for reworking the units

Explanation:

a) Data and Calculations:

Inventory = 20,000 units

Production cost already incurred = $4 per unit

Total production cost = $80,000 (20,000 * $4)

Total Cost of Reworking the units = $30,000

Sales revenue after rework = $35,000

Alternative sales revenue without reworking = $10,500

b) Relevant cost is the avoidable cost.  The cost that can be avoided in this instance is the cost of reworking the units, amounting to $30,000.