COLLEGE OF ARTS AND SCIENCES

Department of Economics

ECONOMICS 20.1
BASIC PRINCIPLES OF ECONOMICS WITH APPLICATIONS IN TAXATION,
AGRARIAN REFORM AND CONSUMER EDUCATION
Academic Year 2015-2016

INFORMATION
Weight: Part I of the Semi-Final Examination Name of Student: Jairus Jingle A. Romano
Teacher: Mr Jhon Louie B Sabal, Section: BG
Assistant Instructor, Department of Economics

Instructions: This Case Study is the second part of your Semi-Final Examination. This is an individual
work following the objectives below:
a. Examine the Philippine Consumer Rights Act by enumerating and explaining the value of
rights and obligations of a consumer in the incessant search for truth and;
b. Identify loopholes on the Philippine Consumer rights and initiate relevant recommendations
using economic tools and concepts
This is your return demonstration in the class. Please limit only your answers in 3 pages.

QUESTION ANSWER
CONTEXT:
What events prompted the creation of RA 7394?
GOALS: a) protection against hazards to
health and safety;
What are the key goals of RA 7394?
b) protection against deceptive, unfair
and unconscionable sales acts and
practices;

c) provision of information and

education to facilitate sound choice
and the proper exercise of rights by
the consumer;

d) provision of adequate rights and

means of redress; and

e) involvement of consumer
representatives in the formulation of
social and economic policies.

STRUCTURE: Department of Agriculture

Department of Health
What are the implementing bodies of RA 7394?
Department of Trade and Industry
 COLLEGE OF ARTS AND SCIENCES
Department of Economics
What is the policy making body?
Department of Education
Bangko Sentral ng Pilipinas
Local Governments

MILESTONES:
As for the consumers,
What are the positive impact to various sectors,
government and the consumers?

CHALLENGES:
What are the pertinent and emerging issues and
problems encountered in the Implementation of
the Act?

ANALYSIS:
What are the positive and negative areas of this
kind of Act?