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Explain the importance of consumer protection from the point of view of a business. - Business Studies

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प्रश्न

Explain the importance of consumer protection from the point of view of a business.

संक्षेप में उत्तर

उत्तर

Businesses cannot survive or profit without consumers protection and satisfaction because of the following reasons:-

  1. Long-term interest: long term profit maximisation should be the aim of the business by retaining the consumer's interest by satisfying them with the products.
  2. Business uses society's resources: Business uses resources from the society therefore it's their responsibility to supply such products and render such services which are of consumers interest.
  3. Social responsibility: consumers are the major stockholders in the business firm and this holds the responsibility of the business to supply good quality products and reasonable prices to consumers.
  4. Moral Justification: It is the moral duty of any business firm to take care of their consumers by avoiding them from getting exploited, insecure losses, and unfair trade.
  5. Government Intervention: A business engaging in exploitative trade practice would attract government intervention, where punishable laws will be followed in case of exploitation of the consumer which can spoil the image of the business. Hence, such practices of fraud need to be avoided.
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अध्याय 12: Consumer Protection - Long Answer [पृष्ठ ३६०]

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एनसीईआरटी Business Studies - Part 2: Business Finance and Marketing [English] Class 12
अध्याय 12 Consumer Protection
Long Answer | Q 1 | पृष्ठ ३६०

संबंधित प्रश्न

The right of consumer which allows him to express his views.


In India Consumer Protection Act is not required.


Write short answer of the following.
State the responsibilities of consumers.


Suman bought a box of cheese of a reputed brand from a local shopkeeper. On opening the box she found a piece of stone in the cheese. She reported the matter to the shopkeeper who forwarded her complaint to the concerned company. Within a week the representative of the company visited Suman's residence with an apology and as a replacement offered her a new cheese pack with four other varieties of cheese as compensation for the inconvenience to her.

State the consumer right which Suman exercised.


Manvendra always went to a specific shop to buy all consumable and nonconsumable goods. In this shop variety of products of different brands were displayed nicely and the sales person available also gave good sales presentation if required. But this shop was quite far off from his residence. His friend Annant always wondered why Manvendra wastes so much time in going to that shop where as there were many big brand shops situated near his residence having consumable and non-consumable goods. Annant asked Manvendra the reason of going to that particular shop. Manvendra told that he was exercising one of his ‘Rights’ which he could not exercise in near-by big brand shops.

State the consumer’s right which Manvendra had exercised.


Answer the following question:
Explain briefly any two points of importance of consumer protection from the point of view of the business.


On Sonika's birthday her mother gave her a pair of gold earrings. After one month Sonika observed that the ear-rings are losing their shine. She checked the mark on the earrings and found that it was not a proper Hallmark and her mother had been cheated by the shopkeeper. So, she finds a complaint in the district forum which rejected it. Not satisfied by the decision of district forum, she was very much disturbed and after two months decided to appeal further.

Can Sonika appeal against the decision of the district forum? Give reason in support of your answer.


Explain the concept of 'consumer protection' and any three points of its importance from the point of view of consumers.


Select the proper option from the options given below and rewrite the sentences:

Ultimate goal of business must be the sa tisfaction of ..... ... .. .......... ... .


Select the proper option from the options given below and rewrite the complete sentence:
Under the consumer Protection Act, 1986, there is a________ quasi judicial consumer dispute redressal machinery for solving
the complaints of the consumers.


State with reasons whether the following statement is True or False.
The consumer protection act was passed in the interest of the sellers.


Explain the need for consumer protection.


Answer the following question.
'VOICE' is an important consumer organization. It organized workshops in the months of December in Delhi/NCR for consumers. The theme was 'Organic Food – From Farm to Plate', to spread awareness on the importance of organic farming and to encourage consumers to switch from conventional food, that contains chemicals and pesticides to organic food. Expert speakers from farmers' community explained the harmful effects of usage of pesticides in farming and the importance of organic food.
People were informed that the organization regularly tests samples to detect adulteration like the presence of heavy metals or pesticides. The results of the tests are published in their monthly magazine 'Consumer Voice' to make people aware of the quality of different products. It also provides aid and legal advice to the consumers in seeking a remedy.
State the functions performed by the Consumer Voice for the protection and promotion of consumer interest by quoting lines from the above para.


______ every year is declared as a Consumer Protection Day to educate the public about their rights and responsibilities.


Which of the following are functions performed by these organisations m regard to safeguarding the interest of the consumers.


What are consumer aids?


A wholesaler sold adulterated goods which were hazardous to the consumer's health.


A patient suffering from a high fever was hospitalised for a few days. During the treatment, he was given an injection whichcaused a permanent nerve damage resulting in paralysis. The cost of treatment was ₹2,00,000, which was disputed by the patient's family.

The consumer dispute redressal authority can be approached by the patient's family. Explain any three rights to the consumers.


Ved and Ahmad made payments at an electronic store. While Ved paid the amount via cheque, Ahmad made his payment by using online banking. Whose payment was swift? Give a reason. 


Assertion: Crossed cheque is one in which two parallel lines are drawn on the upper left side of the cheque. 

Reason: This cheque cannot be encashed. It can only be deposited in the account of the drawee.


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