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Consumer Protection Importance

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What is a reason for the importance of consumer protection from the consumers' point of view?

Advocating for unorganised consumers in India

Ensuring businesses operate in the society's best interests

Encouraging repeat purchases to expand the company's customer base

Protecting consumers from exploitative practices due to their unawareness of rights and remedies (correct)

What is a factor contributing to the need for consumer protection from the business point of view?

Utilization of societal resources by businesses

Long-term business interests in keeping customers happy (correct)

Social duties of a business towards stakeholders

Government intervention against unfair commercial practices

Why are consumers in India mentioned as unorganised in the text?

Because businesses exploit them on a huge scale

The utilisation of societal resources by businesses

Their unawareness of their rights and remedies

Due to the lack of consumer organisations advocating for them (correct)

How does the text suggest that businesses impact societal resources?

<p>Every business utilises societal resources, and it is their job to operate in the society's best interests</p> Signup and view all the answers

What is highlighted as a consequence for businesses engaging in unfair commercial practices?

<p>Government taking action against the company, harming its reputation</p> Signup and view all the answers

Consumer Protection Importance

Choose a study mode

Podcast

Questions and Answers

What is a reason for the importance of consumer protection from the consumers' point of view?

What is a factor contributing to the need for consumer protection from the business point of view?

Why are consumers in India mentioned as unorganised in the text?

How does the text suggest that businesses impact societal resources?

What is highlighted as a consequence for businesses engaging in unfair commercial practices?

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