Tag: consumer protection

Questions Related to consumer protection

Dividing the total market into several groups on the basis of consumer characteristics is known as:

  1. Market segmentation

  2. Market Development

  3. Market Research

  4. None of the above.


Correct Option: A
Explanation:

Dividing the total market into several groups on the basis of consumer characteristics is known as market segmentation. In this process, potential consumers are divided into different groups. Market segmentation is done to facilitate market research.

Match the following:

A. Various combinations of two commodities that a consumer can purchase 1.  Indifference map
B. Various combinations of two commodities that give consumer equal satisfaction 2. Indifference curve
C.  A set of indifference curves 3. Budget line
D. Point of agency of a budget line and an indifference curve 4. Consumer's equilibrium
  1. A-1, B-2, C-4, D-3

  2. A-4, B-3, C-2, D-1

  3. A-2, B-3, C-4, D-1

  4. A-3, B-2, C-1, D-4


Correct Option: D
Explanation:
a) Various combinations of two commodities that a consumer can purchase is depicted by the budget line.
b) Various combinations of two commodities that give consumer equal satisfaction is depicted by an indifference curve.c) A set of indifference curves is known as indifference map.d) Point of agency of a budget line and an indifference curve is known as consumer's equilibrium point.

____ account for the bulk of call centre activities with 24 x 7 handling of inbound customer queries and grievances and out-bound activities customer surveys, payment follow up, and telemarketing.

  1. Agent care

  2. Customer care

  3. Seller care

  4. Manufacturers care


Correct Option: B