Market and Consumer Protection Book Back Questions 7th Social Science Lesson 25

7th Social Science Lesson 25

25] Market and Consumer Protection

Book Back Questions with Answer and Do You Know Box Content

Do You Know?

“Goods once sold will not be taken back” or “No exchange”, or “No refund under any circumstances”. It amounts to Unfair Trade Practice and does not carry any legal weight.

The Eight Basic Consumer Rights: (i) The Right to Basic Needs, (ii) The Right to Safety, (iii) The Right to Information, (iv) The Right to Choose, (v) The Right to Representation, (vi) The Right to Redress, (vii) The Right to Consumer Education, (viii) The Right to a Healthy Environment.

Important Acts: The Consumer Protection Act, 1986; The Legal Metrology Act, 2009; The Bureau of Indian Standards Act, 1986; The Essential Commodities Act, 1955; The prevention of Black Marketing and maintenance of supplies of essential; Commodities Act, 1980.

Choose the best answers:

1. In which case a consumer cannot complain against the manufacturer for a defective product?

(a) Date of expiry unspecified

(b) Price of the commodity

(c) Batch number of the commodity

(d) Address of the manufacturer

2. Consumer’s face various problems from the producer’s end due to

(a) Unfair trade practices

(b) Wide range of goods

(c) Standard quality goods

(d) Volume of production

3. Consumers must be provided with adequate information about a product to make

(a) Investment in production

(b) Decision in sale of goods

(c) Credit purchase of goods

(d) Decision in purchase of goods

4. The system of consumer courts at the national, state and district levels, looking into consumers’ grievances against unfair trade practices of businessmen and providing necessary compensation, is called

(a) Three tier system

(b) One tier system

(c) Two tier system

(d) Four tier system

5. Mixing other extraneous material of inferior quality with a superior quality material is called

(a) Purification

(b) Adulteration

(c) Refinement

(d) Alteration

Fill in the blanks:

1. A set up where two or more parties engage in _____________ of goods, services and information is called a market.

2. In regulated Markets, there is some oversight by appropriate ______________ authorities.

3. _______________ refers to a market structure in which there is a single producer or seller that has a control on the entire market.

4. _______________ statue is regarded as the ‘Magna Carta’ in the field of consumer protection for checking unfair trade practices.

Match the following:

1. The Consumer Protection Act – 1955

2. The Legal Metrology Act – 1986

3. The Bureau of Indian Standards Act – 2009

4. The Essential Commodities Act – 1986

Consider the following the statements and tick the appropriate answer:

1. Assertion: In local Markets the buyers and sellers are limited to the local region or area.

Reason: A market is not restricted to one physical or geographical location.

(a) Both A and R are true and R is the correct explanation of A

(b) Both A and R are true and R is not the correct explanation of A

(c) If A is true but R is false

(d) If A is false but R is false

Answers:

Choose the best answers:

1. Batch number of the commodity 2. Unfair trade practices 3. Decision in purchase of goods 4. Three tier system 5. Adulteration

Fill in the blanks:

1. Buying and selling 2. Government 3. Monopoly 4. COPRA

Match the following:

1. 1986 2. 2009 3. 1986 4. 1955

Consider the following the statements and tick the appropriate answer:

1.Both A and R are true and R is not the correct explanation of A