Commerce Accountancy · General Awareness

Consumer Protection and Commerce

1,192 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.

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Consumer Protection and Commerce Questions

Multiple choice civics consumers' awareness consumer protection act of 1986 need for consumer awareness consumer : satisfaction and protection

In 1985, the United Nations adopted the UN guidelines to ensure _____.

  1. consumer protection

  2. consumer exploitation

  3. consumer support

  4. consumer awareness
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The original Guidelines for Consumer Protection were adopted by the United Nations in 1985, following a successful campaign initiated by Consumers International.

Multiple choice civics consumers' awareness consumer protection act of 1986 need for consumer awareness consumer : satisfaction and protection

What was the result of 'Consumer Movement'?

  1. Pressure on business firms was built up

  2. Government took action against the interests of consumer

  3. There was no change in the attitude of the government

  4. Consumer started asking for cash memo
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
  • Consumer Movement is nothing but consumers forming small groups to express their solidarity. 
  • Consumer Movement builds pressure on the firms or businesses for expressing their grievances.
  • A consumer group can also represent an individual consumer in the Consumer Courts.
Multiple choice civics consumers' awareness consumer protection act of 1986 need for consumer awareness consumer : satisfaction and protection

Consumer movement in India has led to the formation of various organizations locally known as _____.

  1. Consumer Protection Councils

  2. COPRA

  3. Resident Welfare Associations (RWA)

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
  • COPRA 1986 enabled the government to establish central consumer protection council.
  • Minister of the consumer affairs is the chairman of the council.
  • Councils can be set up at state and district levels.
  • Objective of these councils is to protect the basic rights of consumers.
Multiple choice business organisation and correspondence meaning and factors of business environment dimensions of business environment business environment and its dimensions business environment

Out of the following which is not classify as a political-legal factor in the external environment?

  1. European Union's directive on working hours

  2. Government policy on corporate taxes

  3. Regulatory requirements for the telecommunication industry

  4. Consumers' attitude towards the competition in the gas and electricity industries
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The consumer attitude and buying behavior are the marketing and promotional factors that play role in the external environment and will not classify as a legal-political external environment.

Multiple choice economics solution to basic economic problems under different economic systems supply curve and price determination in the market price mechanism and solutions supply

Consumer is regarded as a ____________ in a market economy.

  1. slave

  2. sovereign

  3. either A or B

  4. neither A nor B
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Consumer is regarded as a sovereign in a market economy since it is believed that the supreme power to control market lies in the hands of the consumers. Consumer is the king pin of the market.In a market economy, prices of the commodities in the market are affected by the forces of demand and supply which depends upon the purchasing power of the consumer that generates open competition in the market. Therefore, consumers are known as sovereign in the market.

Multiple choice economics solution to basic economic problems under different economic systems supply curve and price determination in the market price mechanism and solutions supply

___________ is a myth since the wants of the consumers are influenced by the producers through advertisement, propaganda and salesmanship.

  1. Production decisions

  2. Consumer sovereignty

  3. Optimum consumption set

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

In price mechanism, the market decides the price of each and every commodity therefore producers become the price taker but they try to influence consumers by the way of advertisement, propaganda and salesmanship so that every consumer in the market become their customer which break the laws of consumer sovereignty in the economy. 

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Which of the following types of people believe in consumer sovereignty where they indulge excessively in providing customer services_______.

  1. Visionary

  2. Artiste

  3. Superstar

  4. Advisor
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An advisor is a person with deep knowledge in a specific area. Advisor types of people believe in consumer sovereignty where they indulge excessively in providing customer services.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

In marketing, a distinctive group of consumers is known as ______.

  1. a class

  2. a segment

  3. an emerging market

  4. none of the above.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In marketing, a segment refers to a distinct group of consumers who share similar needs, characteristics, or behaviors, allowing companies to target them effectively.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

The importance of consumer was accepted in the.

  1. Self-sufficient stage

  2. Exchange-oriented stage

  3. Production oriented stage

  4. Sales-oriented stage
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The sales-oriented stage shifted focus from production to aggressive selling, which necessitated paying more attention to consumer needs to close deals.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Hyper market is a.

  1. Once price shops

  2. Very large store

  3. Small store

  4. Giant-sized super markets
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A hypermarket is a large-scale retail facility that combines a supermarket and a department store, essentially functioning as a giant-sized version of a supermarket.

Multiple choice

An example of a changing customer need as business opportunity

  1. changing price of complimentary goods

  2. gentrification of a suburb

  3. changes in potential customers

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

Changes in the price of complementary goods, local demographics (gentrification), and the composition of the customer base all influence market demand and create new business opportunities.

Multiple choice

A market is:

  1. A place where stalls are set up for people to buy goods

  2. A place where buyers and sellers trade goods or services
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In economics, a market is broadly defined as any arrangement that allows buyers and sellers to exchange goods, services, or information, not just physical locations with stalls.

Multiple choice organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

Consumer behavior is the result of a _____.

  1. Mental process

  2. Technical process

  3. Scientific process

  4. Social process
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Consumer behavior is primarily the result of a mental process. It involves cognitive and emotional stages such as problem recognition, information search, evaluation of alternatives, and decision-making.