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PRICE RISE AND CONSUMER AWARENESS. — Social Science STD 10 — Question

Gujarat BoardEnglish MediumSTD 10Social SciencePRICE RISE AND CONSUMER AWARENESS.3 Marks
Question
Explain the terms: $(1)$Image $(2)$​​​​​​​ $(3)$ Inflationary Price rise
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Answer

$(1) ISO:$ ISI (Indian Standard of Institute) in $1947$. Now, since $1986,$ it is known as BIS. Bureau of Indian Standard. The goods that meet the described standard and quality are allowed to use ISI mark. Its headquarter is in Geneva. It was established in $1947.$ Its main function is to provide certification of standard according to international standards. e.g. series of $ISO-9000$ is given for environment management system by international organization which is certification of officers and institutions having high quality.
$(2) ECO:$ It is given to soap, detergent, paper, lubricating oil, packing material, colour chemicals, power coating, battery, cosmetics, goods used in place of wood, leather and plastic products by ISI presently called BIS.
$(3)$ Inflationary Price rise: The increase in the price of commodities leads to the demand of higher salaries and if the demand is satisfied the production cost of goods increases in the end thereby increasing the prices again.

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