Commerce Accountancy · General Awareness

Consumer Protection and Commerce

1,245 Questions

Consumer Protection and Commerce encompasses consumer rights, unfair trade practices, retail operations, and e-commerce strategies. It details how goods and services are regulated, sold, and managed within various markets. Questions from this area are common in commerce, economics, and general awareness exam sections.

E-Commerce PlatformsRetail Trade TypesConsumer Rights ProtectionUnfair Trade PracticesOmnichannel StrategiesTariff Impacts

Consumer Protection and Commerce Questions

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

The retailer should adopt a suitable sales policy to increase sales and profits.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Suitable Sales Policies sells its products only through authorized equipment distributors for resale in the agricultural and landscaping irrigation markets, plus other markets. Credit sales are made only to authorized distributors with established open accounts, subject to applicable credit limits.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

Identify the correct statement from the following.

  1. Information about the consumers received from the retailers enable the manufactures to make suitable adjustments in the design, size and contents of their products.

  2. Many retailers offer free home delivery of goods purchased.

  3. Retailers are often ready to take back goods with which consumers are not satisfied and replace them.

  4. None of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A retailer purchases in bulk from the wholesalers and sells the products to the customers in small quantities. A retailer essentially maintains a variety of merchandise. The aim of a retailer is to achieve maximum satisfaction by exceeding their expectations and delivering exceptional services.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

While selecting a new area for commencement of business, a retailer should consider which of the following?

  1. Income level of the prospective customers

  2. Access to wholesale markets, transportation and other facilities

  3. Research on the trend of population

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Commencement of Business under Companies Act, 2013. A Public and Private Limited company having share capital cannot commence business until it has obtained the certificate of commencement of business (COB) from the concerned Registrar of Companies.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

All the activities involved in selling goods or services directly to final consumers for personal non-business uses are done by _________.

  1. wholesalers

  2. retailers

  3. mediators

  4. commission agents
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Retailers are the final link in the distribution chain, selling goods and services directly to the end consumer for personal use.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

Services which retailer provide to manufacturers and wholesalers are ______________.

  1. enabling large scale operations

  2. collecting market information

  3. promotion

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Retailers provide manufacturers and wholesalers with valuable services, including promoting products, gathering market feedback, and facilitating large-scale operations by handling distribution.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

_______ are the small retailers who are commonly found at places where huge floating population gathers.

  1. Street traders

  2. Peddlers and hawkers

  3. Market traders

  4. Cheap jacks
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Street trading is defined as the selling or offering for sale of any article in thestreet. Traders who use the public highway to sell goods or services must have astreet trading licence to carry out trade from a designated site/pitch and display of goods in front of a shop.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

Through the service of ________ retailers make the products available to the final consumers, who may be scattered over a large geographic area.

  1. distribution of goods

  2. promotion

  3. collecting market information

  4. enabling large-scale operations
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Distribution is the process of making a product or service available for the consumer or business user that needs it. This can be done directly by the producer or service provider, or using indirect channels with distributors or intermediaries.

n a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed.In a command economy, also known as a planned economy, the government largely determines what is produced and in what amounts.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

Retailers help manufacturers to advertise their products and offer short-term incentives in the form of coupons, free gifts, sales contests. This service is identified as _________.

  1. Help in distribution of goods

  2. Help in promotion

  3. Collecting market information

  4. Enabling large-scale operations
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Promotion is a type of communication between the buyer and the seller. The seller tries to persuade the buyer to purchase their goods or services through promotions. It helps in making the people aware of a product, service or a company. It also helps to improve the public image of a company. Promotion is the element in an organization's marketing mix that serves to inform, persuade and remind the market of the organization or its products.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

The Latest entrants in the field of retailing is what?

  1. Super markets

  2. Hyper-markets

  3. Cooperative retailing

  4. Instalment selling
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Hyper-markets are large retail facilities that combine a supermarket and a department store, representing a more modern and expansive retail format.

Multiple choice business organisation and correspondence employment opportunities in commerce meaning and essential elements of retail trade employment opportunities in insurance sector and capital market middlemen 2 - retailer

Services which retailer provide to customers are _______________.

  1. wide selection of goods

  2. after sale services

  3. credit facilities

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Retailers provide various services to customers, including offering a wide selection of goods, providing credit facilities, and offering after-sales support.

Multiple choice organization of commerce and management emerging modes of services e-advertising, e-marketing and e-security structure of business introduction to internet and e-commerce

Cookies are very similar to the caller ID in telephones that provide telemarketers with such relevant information about customers.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

True. 

Cookies are basic software system that is similar to the caller ID in telephones as it provides information of all the customers who have visited a certain website to the telemarketers and advertisers of that website.

Multiple choice commercial studies structure of business e-advertising, e-marketing and e-security introduction to internet and e-commerce emerging modes of services e-tailing e-commerce and mobile commerce

E-commerce includes buying and selling of ___________________.

  1. Goods-e.g. digital cameras, music systems, clothes, accessories

  2. Information-e.g. subscription to some law site may give access to some court cases

  3. Services. e.g. matrimonial services through shaadi.com, placement services through naukri.com

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
E-commerce stands for electronic commerce where the information or trade between two parties are done through electronic transmission of data that includes text, sound and visual images. It makes use of various electronic platforms such as intranets, extranets and  the internet to deal in buying and selling of goods, services and information.
Multiple choice contemporary indian society civics

Main reason for growing consumerism in Indian society is ____________.

  1. Growth in middle class

  2. Pressure of commercialisation

  3. Distance from traditional business

  4. Development of education
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Social and economic order and ideology that encourages the acquisition of goods and services in ever-increasing amounts is called consumerism. It involves protection and promotion of consumer interests. The main reason for growing consumerism is commercialization. It is the process of introducing a new product or production method into commerce to increase trade.

Multiple choice contemporary indian society civics

Sale of bottled water is an example of __________.

  1. Consumerism

  2. Commercialisation

  3. Industrialisation

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Sale of bottled water is an example of commercialization. Conversion of an object into a product so that it can be traded in the market is called commercialization. It is the process of introducing a new product or production method into commerce. Water is present in nature and freely available to all. But water is being sold in bottles to make a profit. Hence it is an example of commercialization.

Multiple choice contemporary indian society civics

Which of the following statements is/are true regarding consumerism?

  1. Consumerist lifestyle has become status symbol

  2. Consumerism is directly linked with reputation of lifestyle

  3. Both A and B

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Social and economic order and ideology that encourages the acquisition of goods and services in ever-increasing amounts is called consumerism. It involves protection and promotion of consumer interests. The main reason for growing consumerism is commercialization. It is the process of introducing a new product or production method into commerce to increase trade. Buying commercialized products have become a status symbol and are linked to the reputation of people.