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 contemporary indian society civics

Which of the following is not an example of consumerism?

  1. Shopping each day as a part of hobby

  2. Buying different pairs of shoe for different week days

  3. Reusing the waste products

  4. All 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. Reusing the waste products is not an example of consumerism because these things do not involve the acquisition of new goods.

Multiple choice contemporary indian society civics

Which of the following is an example of consumerism?

  1. Growing your own vegetables in a garden in your backyard

  2. Purchasing a different vehicle to drive for each day of the week

  3. Recycling your plastic bottles

  4. Wearing clothes that where handed down from a older sibling
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. Purchasing a different vehicle to drive for each day of the week is an example of consumerism. The other options mentioned like, growing your own vegetables in a garden in your backyard, recycling your plastic bottles, wearing clothes that were handed down from older sibling are not examples of consumerism because these things do not involve the acquisition of new goods.

Multiple choice contemporary indian society civics

Which of the following does not justify consumerism?

  1. The belief that it is good for people to spend a lot of money on goods and services

  2. The actions of people who spend a lot of money on goods and services

  3. An ideology that places value on the excessive consumption of material goods and services

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

Social and economic order and ideology that encourages the acquisition of goods and services in ever-increasing amounts is called consumerism. Given options like people spending a lot of money in acquiring goods and excessive consumption of goods and services are the characteristics of consumerism.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Which of the following is not a fixed shop large retailer?

  1. General stores

  2. Chain Stores or Multiple Shops

  3. Departmental stores

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

A general merchant store (also known as general merchandise store, general dealer or village shop) is a rural or small town store that carries a general line of merchandise.

General goods are basic items, usually needed for everyday survival, including basic drinks, food, and some basic profession or trade skill tools. Vendors for these items can be found in just about every major city or village.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The departmental store caters to the needs of relatively_________________ of people.

  1. high income group

  2. low income group

  3. Both A and B

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

A high income economy is defined by the World Bank as a country with a gross national income per capita US$12,056 or more in 2017, calculated using the Atlas method. While the term "high income" is often used interchangeably with "First World" and "developed country", the technical definitions of these terms differ.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Goods are kept on racks with clearly labelled price and quality tags in such stores. This is a feature of which of the following store?

  1. Consumer Cooperative Store

  2. Super Markets

  3. Mail Order Houses

  4. Any of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A supermarket is a self-service shop offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big box market.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Major disadvantage of large shop retailers are that they lack in providing personalized service to the customers.

  1. True

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

Disadvantages of large-scale retail businesses

  • Less ability to offer personal service

A small retailer may know all his clients personally due to constant interaction with them. He would know the tastes and preferences of his clients to be able to offer them a better personalized service, catering for their unique needs. A large retailer would not be able to do this as its aim is to sell, sell and sell. Time is money is such a large business and the more rapidly it sells, the higher the profit. Special small orders from customers are rarely accepted, especially if these do not generate enough cash to generate the required rate of return for the business. The customer may be considered nothing more than a number in a large superstore, but he would be a treasured regular customer for the small retail store.

  • Labour problems

The fact that it is constrained by time, pressure is transferred to the large retail store’s staff, which is expected to do more in less time. Most of the work is repetitive and they can hardly engage in conversations with the client or with colleagues. This leads to lower morale on the place of work and more costs of recruitment and retraining if workers regularly resign from their work.

  • Less control over pilfering

With a huge surface area full of thousands of items, it is difficult to have eyes all over the place to control pilfering. Large retailers are faced with the problem of people stealing small amounts from the shelves while no one is looking.  The temptation to steal is higher in a large shop than it is in a smaller shop where it is easier to be spotted by someone. Thieves may also think that it is less likely for larger retailers to notice occasional pilfered items due to the large quantities of material. Shoplifters are regularly convicted by large retailers than they are by the smaller ones. The business is faced with a loss-loss situation where it either invests in security or else it suffers the loss of pilferage. 


Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

By selling directly to the consumers, the multiple-shop organisation is able to eliminate unnecessary middlemen in the sale of goods and services.

  1. True

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

It is an approach to operating a retail business in which you offer products to customers through multiple retail channels. Brick-and-mortar stores, catalogs and the Internet are three primary multiple channels used by many retailers, but other, smaller retail formats exist as well.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Which of the limitation talks about lack of initiative under the Chain store or Multiple shops retailer?

  1. Fluctuations in demand for the merchandise may lead to loss because of large stock.

  2. The personnel managing the multiple shops have to obey the instructions received from the head office which makes them habitual for directions.

  3. The multiple shops deal only in limited range of products.

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

It is an approach to operating a retail business in which you offer products to customers through multiple retail channels. Brick and mortar stores, catalogs and the Internet are three primary multiple channels used by many retailers, but other, smaller retail formats exist as well.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Name some of the fixed shop large retailers that are present in the market.

  1. Departmental stores

  2. Chain stores

  3. Mail order houses

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

Departmental stores, chain stores, and mail order houses are all recognized forms of large-scale fixed shop retailing. Therefore, all listed options are correct.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Mention the goods that are traded in Super markets.

  1. Groceries

  2. Utencils

  3. Electronic goods

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

A supermarket is a self-service shop offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Identify the incorrect statement regarding large shop retailers.

  1. There are different size groups of fixed shop retailers.

  2. These retailers may be dealing in different products, including consumer durable as well as non-durable.

  3. This category of retailers has greater credibility in the minds of customers.

  4. They normally deal in consumer products of daily use.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Large scale retail trade is a type in which either single type of goods or a variety of goods is made available to a large number of consumers in a big shop under a singel roof or may be made available at the convenience of customers.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The type of store that features Product lines is _______.

  1. hawkers

  2. one price retailer

  3. departmental Store

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

Product lines is a group of related products under a single brand sold by the same company . Companies sell multiple product lines under same brand. 

Product lines cover departmental stores .

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The profits earned by consumer cooperative stores during a year are utilized for declaring bonus to members according to purchases made by them.

  1. True

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

Consumers' co-operatives are enterprises owned by consumers and managed democratically which aim at fulfilling the needs and aspirations of their members. They operate within the market system, independently of the state, as a form of mutual aid, oriented toward service rather than pecuniary profit.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Which of the following is not a feature of Chain store?

  1. The manufacturing/procurement of merchandise for all the retail units is centralized at the head office.

  2. Each retail shop is under the direct supervision of a Branch Manager.

  3. As the size of these stores is very large, they are generally formed as a joint stock company.

  4. The prices of goods in such shops are fixed and all sales are made on cash basis.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Chain store is that it deals in one type of product. Thus the idea behind multiple shops is specialisation. Thus we can say that chain stores mean a group of stores, handling similar lines of merchandise with single ownership and scattered location