Why are rules and regulations required for the protection of consumers in the marketplace? Explain with examples.

Rues and regulations are required for the protection of workers in the unorganised sector or to protect people from high interest rates charged by moneylenders in the informal sector. Individual consumers often find themselves in a weak position. Whenever there is a complaint regarding a good or service that had been bought, the seller tries to shift all the responsibility on to the buyer. Their position usually is – “If you didn’t like what you bought, please go elsewhere”. As if the seller has no responsibility once a sale is completed! The consumer movement, as we shall discuss later, is an effort to change this situation.