Class 12 Business Studies - Chapter Consumer Protection NCERT Solutions | Explain the importance of consumer prote
Explain the importance of consumer protection from the point of view of a business.
A business must also lay emphasis of protecting the consumers and adequately satisfying them. This is important because of the following reasons:
1. Long-term Interest of Business: Customer is the foundation of business. Satisfied consumers not only bring repeated sales but also give positive feedback about the product, which help to increase the customer-base of business.
In order to satisfy and retain consumers for long-term, consumer protection is necessary. This facilities long-term profit maximisation of the firm.
2. Business Uses Society’s Resources: Business firms use resources that belong to the society such as manpower, mineral resources, capital, etc. Therefore, it is the responsibility of businesses to convert these resources into useful goods and services for the welfare of society.
3. Social Responsibility: Business organisation makes money by selling their products to consumers. It is the social responsibility of businessman to provide satisfaction to their customers and take care of their interests.
4. Moral Justification: Business exists to serve human beings. It is the moral duty of a businessman to serve their customers well and keep them away from exploitative and unfair trade practices.
Therefore, business must avoid unfair trade practices such as adulteration, misleading advertising, black-marketing, etc.
5. Government Intervention: If a business organisation is engaged in any form of exploitative trade practices, government would interfere and can tarnish the image of the company. Therefore, it is in the interest of business itself, to take care of consumer protection.
More Questions From Class 12 Business Studies - Chapter Consumer Protection
- Q:-
Mrs. Mathur sent a jacket to a laundry shop in January 2018. The jacket was purchased at a price of ₹4,500. She had previously sent the jacket for dry cleaning with Shine Dry Cleaners and the jacket was cleaned well. However, she noticed that her jacket had white discoloration marks when she collected the jacket this time. On informing the dry cleaner, Mrs. Mathur received a letter confirming that discolouration indeed appeared after the jacket was dry cleaned. She contacted the dry cleaner multiple times and requested for compensation for discoloured jacket but to no avail.
Upon Consumer court’s intervention, Shine Dry Cleaners agreed to compensate ₹2,500 to Mrs. Mathur for the discoloured jacket.
a. Which right was exercised by Mrs. Mathur at the first instance.
b. Name and explain the right which helped Mrs. Mathur to avail the compensation.
c. State which consumer responsibility has been fulfilled by Mrs. Mathur in the above case.
d. State any other two responsibilities to be assumed by the consumers. - Q:-
Under which consumer right does a business firm set up consumer grievance cell?
- Q:-
Explain the redressal mechanism available to consumers under the Consumer Protection Act, 1986.
- Q:-
FSSAI (Food Safety and Standards Authority of India) has made a proposal for hotels and other food outlets to declare the kind of oil/fat used in cooking each of the food items on their menus. Name and explain the Consumer Right being reinforced by this proposal.
- Q:-
Name the component of product mix that helps the consumer to exercise the right to information.
- Q:-
Who can file a complaint in a consumer court?
- Q:-
Which quality certification mark is used for agricultural products?
- Q:-
Enumerate the various Acts passed by the Government of India which help in protection of consumers’ interests.
- Q:-
State any two relief available to consumers under CPA.
- Q:-
Explain the role of consumer organisations and NGOs in protecting and promoting consumer’s interest.
Popular Questions of Class 12 Business Studies
- Q:-
How does planning provide direction?
- Q:-
What is meant by staffing?
- Q:-
Identify the network of social relationships which arises spontaneously due to interaction at work.
- Q:-
What is informal communication?
- Q:-
State the meaning of controlling.
- Q:-
What is meant by capital structure?v
- Q:-
What is meant by management?
- Q:-
What is a Treasury Bill?
- Q:-
State any two advantages of branding to marketers of goods and services?
- Q:-
What makes principles of management flexible?
Recently Viewed Questions of Class 12 Business Studies
- Q:-
What are the external sources of recruitment? Discuss their advantages.
- Q:-
What is meant by 'Scalar Chain'?
- Q:-
A company is manufacturing paper plates and bowls. It produces 1,00,000 plates and bowls each day. Due to local festival, it got an urgent order of extra 50,000 plates and bowls. Explain the method of recruitment that the company should adopt in the given circumstances to meet the order.
- Q:-
Discuss in detail how management can be considered a profession.
- Q:-
Discuss the role of ‘sales promotion’ as an element of promotion mix.
- Q:-
State the impact of demonetization on interest rates, private wealth and real estate.
- Q:-
Explain any four points regarding significance of principles of management.
- Q:-
What kind of strategic decisions are taken by business organisations?
- Q:-
Sunrises Ltd. dealing in readymade garments, is planning to expand its business operations in order to cater to international market. For this purpose the company needs additional ₹ 80,00,000 for replacing machines with modern machinery of higher production capacity. The company wishes to raise the required funds by issuing debentures. The debt can be issued at an estimated cost of 10%. The EBIT for the previous year of the company was ₹ 8,00,000 and total capital investment was ₹ 1,00,00,000. Suggest whether issue of debenture would be considered a rational decision by the company. Give reason to justify your answer. (Ans. No, Cost of Debt (10%) is more than ROI which is 8%).
- Q:-
Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
- All Chapters Of Class 12 Business Studies
- All Subjects Of Class 12