Tag: consumer protection

Questions Related to consumer protection

Which of the following is not a way of consumer protection?

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. Self Regulation by Business

  2. Business Associations

  3. Consumer Awareness

  4. Business

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Correct Option: D
Explanation:

Business is not a way of consumer protection. It is not a way to uphold the interests and rights of the consumers. Business can be defined as an activity where buying and selling take place on a daily basis.

The draft form of a proposed statute law is called:

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. A writ

  2. A Bill

  3. A draft

  4. An Act

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Correct Option: B
Explanation:

The draft form of a proposed statute law is called a bill. In other words, a bill refers to a statement which specifies the amount owed for goods and services.

Which is not an option for the victim of a breach of a condition?

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. Accept the goods and lose the right of discharging the contract.

  2. Consider the breach of condition a breach of warranty and accept the goods.

  3. Keep the goods and lose any right to a remedy.

  4. Sure for damages but keep the goods.

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Correct Option: C
Explanation:

Keep the goods and lose any right to a remedy- this is not an option for the victim of a breach of a condition. Legally, 'breach of a contract' refers to a situation when any one party fails to meet the conditions made on the contract.

Buyers can exercise high bargaining power over their suppliers if: __________.

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. the volume they buy accounts for a large percentage of their suppliers sales.

  2. there are few buyers in the market.

  3. they have many suppliers to choose from.

  4. all of the above.

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Correct Option: D
Explanation:
Buyers can exercise high bargaining power over their suppliers if the following situations occur:
a) the volume they buy accounts for a large percentage of their suppliers sales.
b) there are few buyers in the market.
c) they have many suppliers to choose from.

You are writing a report on the level of customer satisfaction at each of your three locations. Which of the following is the BEST title for your report?

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. Why customers are happy with our service

  2. Not all customers are happy with our service

  3. Customers have interesting things to say

  4. Results of customer service survey at three locations

Show answer
Correct Option: D
Explanation:

Results of customer service survey at three locations- this would be the best title of the report.  If a report is to be written on the level of customer satisfaction at each of the three locations then, the results of all three consumer's reaction should be highlighted.

Which of the following is appropriate for reports?

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. Avoid using headings and transitions

  2. Introduce the visuals in the document

  3. Use a very formal style to impress readers

  4. Use slang and contractions

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Correct Option: B
Explanation:

Introduce the visuals in the document is appropriate for reports. This will help faster retention of information by the audience. In a way visuals are more appealing for the audience to watch.

A thought of new product is examined amongst potential consumers to determine consumer Acceptance at which state? 

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. Concept

  2. Test marketing

  3. Product development

  4. Commercialization

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Correct Option: A
Explanation:

A thought of new product is examined among potential consumers to determine consumer acceptance at the concept state. New product is designed according to the need of the potential buyers. Thus, at the concept stage or planning stage, a thought of new product is examined.

A distinct advantage that provides a firm to contribute greatly to customer benefits in the end products is known as _____________.

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. competitive advantage

  2. competence

  3. core competence

  4. value addition

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Correct Option: C
Explanation:

A distinct advantage that provides a firm to contribute greatly to customer benefits in the end products is known as core competence. It also provides long term competitive advantage. Thus in turn, the consumers get benefited.

Consumer's market is a type of __________ market.

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. buyer's

  2. sellers

  3. distributor's

  4. none of the above

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Correct Option: A
Explanation:

Consumer's market is a type of buyer' market as in this market people buys goods mainly for the consumption purpose. Consumer refers to a person who consumes goods with his given income and prices of the goods and buyer is a person who buys the goods.

Distribution channel aims of moving products from producer to ___________.

organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

  1. ultimate consumer

  2. retailers

  3. stockists

  4. brokers

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Correct Option: A
Explanation:

Distribution channel aims of moving products from producer to ultimate consumer. Distribution channel refers to the pathway of several persons by which the finished goods get transferred to the final consumer. Wholesaler is an agent of the distribution channel of the products.