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

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

In companies with only record clerk, the average clerk spends more than 500 hours a year just in order to maintain the index of location of records at the office. Currently available high-speed specialized computers if installed shall reduce time required to find the records by about 75 percent. Therefore, purchasing the new computer will save money for any such company whose record clerk spends time on finding records.

Which of the following is an assumption necessary to the author's argument?

  1. Purchasing and maintaining the high-speed computers would cost less than does 125 hours of the average record clerk's time.

  2. The high-speed computer is no more expensive than are simple computers.

  3. The high-speed computer is as easy to operate, as are presently used computers at the office.

  4. On average, clerk' salary are rising and the prices of high-speed computers are remaining constant.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

t, the time saved must be more valuable than the equipment bought. Therefore, if the 500 hours a record clerk spends making index of records will be cut in by 75 percent using new high speed machine, (A) that high speed machine must cost less to buy and maintain than it would cost to pay a secretary for 125 hours, which is the time he'll save with the new machine.

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. 

Multiple choice

The most significant piece of legislation dealing with e-commerce is

  1. The Electronic Business Act

  2. The Personal Information Protection and Electronic Documents Act

  3. The Electronic Communications and Information Act

  4. The Information Act
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

(2) E-commerce mainly developes from the Personal Information Protection and Electronic Documents Act.

Multiple choice

Which of the following is/are the drawback(s) of E-commerce?

  1. There are lot of choices for products.

  2. E-commerce ensures less paper work.

  3. There are issues of security.

  4. E-commerce is a speedy process.

  5. Both (2) and (3)
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

This is a drawback of E-commerce as there are many issues arises like privacy of information, whether or not payment details like credit card details can be misused.

Multiple choice

eBay is an example which of the following?

  1. Business-to-Business (B2B)

  2. Consumer-to-Consumer (C2C)

  3. Business-to-consumer (B2C)

  4. Both (1) and (2)

  5. Both (2) and (3)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

eBay is an example of a C2C E-commerce site, where the customers can buy and sell items directly to each other through the site.

Multiple choice

Online shopping sites are the example of which of the following E-commerces?

  1. B2B (Business-to-Business)

  2. B2C (Business-to-Consumer)

  3. C2B (Consumer-to-Consumer)

  4. C2C (Consumer-to-Business)

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

In C2B business, a consumer creates value and demands for the products from the companies and the consumer has a bid to purchase these products. Online shopping sites are used for C2B business.