Consumer Protection - Class 12 Business Studies - Chapter 11 - Notes, NCERT Solutions & Extra Questions
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Extra Questions - Consumer Protection | NCERT | Business Studies | Class 12
Prohibition of liquor means restriction from
A. buying liquor
B. selling liquor
C. consuming liquor
D. all of the above
The correct answer is D. all of the above.
Prohibition of liquor encompasses restrictions on buying, selling, and consuming liquor. Thus, all listed activities are impacted by a prohibition.
Services which retailers provide to consumers are:
A Wide selection of goods
B After sales services
C Provide credit facilities
D All of the above
The correct answer is D. All of the above.
Retailers offer a variety of services to consumers, including:
A wide selection of goods: This allows consumers to choose from a range of products in one location.
After-sales services: These services help in maintaining customer satisfaction and loyalty after the purchase is made.
Provide credit facilities: This helps customers to purchase products by enabling payment over time.
Hence, all the listed options (A, B, C) are services provided by retailers to their consumers.
Consider the following statements regarding the National Human Rights Commission:
It cannot recommend to the concerned government or authority to make payment of compensation or damages to the victim.
It cannot intervene in matters of bonded labour, which comes under the jurisdiction of the Labour Bureau. Which of the above statement(s) is/are correct?
(A) Only 1
(B) Only 2
(C) Both 1 and 2
(D) None of the above
The correct answer is D) None of the above.
NHRC (National Human Rights Commission) can indeed recommend to the concerned government or authority to make payment of compensation or damages to the victim. This is a direct refutation of the first statement, indicating that NHRC has the power to recommend compensation or redress damages.
Moreover, regarding the second statement, NHRC is not restricted from intervening in cases concerning bonded labor. In fact, it has actively participated in the abolition of bonded labor.
Thus, both statements are inaccurately representing the capabilities and functions of the NHRC. This makes option D, None of the above, the correct choice as neither statement is correct.
The gap between manufacturers and consumers is bridged by the:
A) distributors
B) producers
C) sellers
D) end-users
The correct answers are:
A) distributors
C) sellers
Distributors and sellers play a crucial role in the supply chain by procuring goods from manufacturers and delivering them to consumers. They effectively bridge the gap between the two, ensuring that products move from production to the marketplace.
In the case of a flood attack, who is likely to suffer maximum loss in business?
A) Consumers
B) Wholesalers
C) Retailers
D) Salespersons
The correct answer is B) Wholesalers.
Wholesalers are more likely to incur significant losses during a flood attack due to their practice of storing large quantities of goods. These goods can be severely damaged by natural calamities like floods, thus potentially leading to huge financial losses.
The Minimum Wages Act is required to:
A) protect consumers.
B) protect suppliers.
C) protect producers.
D) protect workers.
The correct answer is D) protect workers.
The Minimum Wages Act is primarily designed to safeguard the rights and welfare of workers by ensuring that they receive a fair and livable minimum wage. This legislation is pivotal in protecting workers from exploitation by their employers by setting a baseline wage that must be adhered to.
Consider the following pairs with respect to the Insurance Sector:
Term | Description |
---|---|
| The price of insurance protection, paid by the policyholder to the insurer |
| Insurance Penetration & Measured as the number of insurance policies per one lakh population |
| Beneficiary of the policy is someone other than the two parties (insurer and insured) involved in the contract |
Which of the pairs given above is/are correctly matched? A. 1 and 3 only
B. 1 and 2 only
C. 2 only D. 1, 2 and 3
The correct answer is Option A: 1 and 3 only (เคเฅเคตเคฒ 1 เคเคฐ 3).
Explanation:
Pair 1 is correctly matched: The term 'Premium' refers to the amount paid by the policyholder to the insurer in order to have their risk covered. In exchange for this premium, the insurer agrees to compensate for the losses as specified in the policy agreement.
Pair 2 is incorrectly matched: 'Insurance Penetration' is defined not by the number of policies but by the ratio of premium volume to the Gross Domestic Product (GDP) of a country. It essentially measures the depth of the insurance sector within the national economy.
Pair 3 is correctly matched: 'Third Party Insurance' is typically required by law for vehicles. It protects against claims of damages and losses incurred by a third party the insured person is responsible for. The beneficiary of the policy, in this case, is neither the policyholder (e.g., the car owner) nor the insurer, but a harmed third party.
Additional Information:
'Insurance Gap' is a measure that reflects the difference between the total value of assets and the value that is insured, indicating the amount of uncovered assets. India has a significant insurance gap, highlighting the potential need for more comprehensive insurance coverage.
Manufacturing date and expiry date of a Juice is shown below in the figure. How many years is this safe to use?
Option 1) 1 Option 2) 2 Option 3) 3 Option 4) 4
The correct option is 3.
The given image indicates that the juice was manufactured on 4th September 2014 and has an expiry date of 4th September 2017.
Since the day and month are the same, we only need to calculate the difference between the years to determine the safe usage period.
Hence, $$ 2017 - 2014 = 3 \text{ years} $$
Therefore, the juice is safe to use for 3 years.
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