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.

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

Consumer Protection and Commerce Questions

Multiple choice

The consumer durables industry is increasing its market discounts more widely and earlier this year than it normally does at the beginning of the winter vacations, it is a period during which shopping usually increases and the industry uses lower prices for the attraction of more buyers.

  1. than it normally does at the beginning of the winter vacations, it is a period during which shopping usually increases and the industry uses lower prices for the attraction of more buyers

  2. then it normally does at the beginning of the winter vacations; it is in a period during which shopping usually increases and the industry uses lower prices for the attraction of buyers

  3. than it does normally at the beginning of the winter vacations in which shopping usually increases and in which the industry uses lower prices to attract more buyers

  4. than it normally does at the beginning of winter vacations, when shopping usually increases and the industry uses lower prices to attract more buyers

  5. than it does normally at the beginning of the winter vacations when shopping usually increases and therefore the industry uses lower prices to attract more buyers
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Correct; uses 'when' to signify time duration; clarifies the objective of lower prices: to attract more buyers.

Multiple choice

Which of the following sales prescribed by regulation?

  1. AMFI Code of Ethics

  2. SEBI Advertising

  3. AMFI's Code for Agents

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

SEBI has prescribed comprehensive advertising regulations for mutual funds to ensure fair disclosure and prevent misleading claims. The question appears to have grammatical issues, but SEBI advertising rules are the correct regulatory framework.

Multiple choice

Which of the following types of cooperatives is formed by small independent producers to sell their output through one centralised agency?

  1. Consumers cooperative

  2. Producers cooperative

  3. Cooperative Farming Society

  4. Marketing Cooperative

  5. Credit Cooperative
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

These are voluntary associations of independent producers who want to sell their output at remunerative prices. The output of different members is pooled and sold through a centralised agency to eliminate middlemen. The sale proceeds are distributed among the members in the ratio of their outputs. Marketing societies are set up generally by farmers, artisans and small producers who find it difficult to face competition in the market and to perform necessary marketing functions individually. The National Agricul­tural Cooperative Marketing Federation (NAFED) is an example of marketing cooperative in India.

Multiple choice

What is action alley?

  1. The sales area of a store located immediately after entering

  2. The number of identical products in front of a customer

  3. The location of the retail store where goods are displayed and sales transactions take place

  4. A price incentive offered by manufacturers to induce buyers to place orders at a trade show

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Yes, it is the right answer.

Multiple choice

Which of the following is also called ‘home shopping’?

  1. Non-store retailing

  2. GDS (Global Distribution System)

  3. Travel website

  4. Infomercials

  5. Online auction
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Non-store retailing, sometimes also labelled ‘home shopping’ is consistently achieving double-digit growth, and slowly taking a bigger share of overall retailing.

Multiple choice

Which of the following is the Federal Trade Commission regulatory program that requires advertisers to have documentation to support the claims made in their advertisement?

  1. Advertising Substantiation

  2. Advertising Campaign

  3. Affirmative Disclosure

  4. Qualitative Audit

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A Federal Trade Commission regulatory program that requires advertisers to have documentation to support the claims made in their advertisement is known as Advertising Substantiation.

Multiple choice

Who are organisational stakeholders?

  1. Customers

  2. Communities

  3. Providers of finance

  4. All of the above

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

A person, group or organisation that has interest or concern in an organisation. Stakeholders can affect or be affected by the organisation's actions, objectives and policies. Customers, community and finance providers are organisational stakeholders.