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Consumer Protection Test - 4

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Consumer Protection Test - 4
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Weekly Quiz Competition
  • Question 1
    1 / -0
    A _______ is generally understood as a person who uses or consumes goods or avails of any service
  • Question 2
    1 / -0
    Situation in which cost object has any job, customer or product is known as
  • Question 3
    1 / -0
    A consumer consuming two goods will be in equilibrium, when the marginal utilities from both goods are ____________________.
  • Question 4
    1 / -0
    Examples of Global Entities:
    Solution
    Global entities are business firms or company's doing work in international trade doing business across the world. Environmentalists, consumer protection group and media persons and local lobbyists are few examples of global entities as they impact on the world at large.
  • Question 5
    1 / -0
    Which of the following is a use of the Consumer act?
    Solution
    One of the many uses of Consumer act is to create awareness that makes us alert so that we can question the price and quality of the goods and services we buy and use. It also creates a social concern by making sure that the products and services we use are not produced in a situation that harms others.
  • Question 6
    1 / -0
    The desirable method of consumer protection is ___________.
    Solution
    The desirable method of consumer protection is imposition of self-regulation and discipline by the manufacturers and traders on themselves. It helps to prevent fraudulent practices in the market place. It also promotes fair trade and accurate information in the market.
    Hence, option (A) is the correct answer.
  • Question 7
    1 / -0
    When was the consumer protection act first passed in India?
    Solution
    Consumer Protection Act, 1986 is an Act of the Parliament of India enacted in 1986 to protect the interests of consumers in India. It makes provision for the establishment of consumer councils and other authorities for the settlement of consumers' disputes and for matters connected therewith. Consumer Protection Councils are established at the national, state and district level to increase consumer awareness
  • Question 8
    1 / -0
    When did the United Nation adopt the guidelines for consumer protection ?
    Solution
    The United Nations is an organization comprising of numerous countries.  UN consumer protection guidelines are set of rules for the safety of consumers for all member countries in the UN.
  • Question 9
    1 / -0
    Which are the rights available for consumers under the Consumers Protection Act.
    I. The right to safety
    II. The right to be informed
    Ill. The right to choose
    IV. The right to be heard
    Solution
    Following rights are available for consumers under the Consumers Protection Act:-I. The right to safety
    II. The right to be informed
    Ill. The right to choose
    IV. The right to be heard
    These rights are given to the consumers in order to protect the interest of the consumers. It also helps to prevent fraudulent practices n the market place.
    Hence, option (D) is the correct answer.
  • Question 10
    1 / -0
    According to Human Development Report, 1998 Consumers rights must be defined through _______.
    Solution
    According to Human Development Report, 1998 Consumer rights must be defined through strict standards for consumer health and safety, product labeling and information and awareness campaign about potential health hazards. Consumers rights protect the interest of the consumers. These rights also help to promote fair trade and accurate information in the market place.
    Hence, option (D) is the correct answer.
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