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Standardization is sometimes or could also be used to ensure or increase or enable consumer health protection beyond the workplace and ergonomics such as standards in food, food production, hygiene products, tab water, cosmetics, drugs/medicine, [54] drink and dietary supplements, [55] [56] especially in cases where there is robust scientific ...
Standard of living is the level of income, comforts and services available to an individual, community or society.A contributing factor to an individual's quality of life, standard of living is generally concerned with objective metrics outside an individual's personal control, such as economic, societal, political, and environmental matters. [1]
The consumer welfare standard gradually replaced the rule of reason principle as the dominant legal theory behind antitrust enforcement by the 1980s. The consumer welfare standard was influenced by microeconomic theory and is related to the economic theories of the Chicago school of economics. [5] The adoption of the consumer welfare standard ...
ANEC, formally The European consumer voice in standardisation (prior to June 2022, The European Association for the Coordination of Consumer Representation in Standardisation), [2] is an organisation promoting and defending the collective European consumer interest in the process of standardization, and in related fields such as conformity assessment (e.g.certification), market surveillance ...
Fordism is an industrial engineering and manufacturing system that serves as the basis of modern social and labor-economic systems that support industrialized, standardized mass production and mass consumption. The concept is named after Henry Ford.
Harmonization involves a reduction in variation of standards, while standardization entails moving towards the eradication of any variation with the adoption of a single standard. [3] The goal for standard harmonization is to find commonalities, identify critical requirements that need to be retained, and provide a common framework for ...
The GDP in the country grew 6.3% in 2015. Their inflation rate was about 1.4%, and the service sector had grown, becoming a large part of GDP. The economy did not generate a large amount of savings, despite the fact that the 6% growth during the economic recovery of the 3rd and 4th quarter was largely driven by consumer spending. [23]
Consumer sovereignty is the economic concept that the consumer has some controlling power over goods that are produced, and that the consumer is the best judge of their own welfare. Consumer sovereignty in production is the controlling power of consumers, versus the holders of scarce resources, in what final products should be produced from ...