Business Studies True/False

False, A District Forum offers for redressal of consumer grievances when the value of goods and services in question, along with the compensation claimed is less than Rs 20 lakhs. In case the value exceeds Rs 20 lakhs, a complaint can to be filed in the appropriate State Commission.

False.
Solution:
As it helps in achieving the aim of long-term profit maximisation through consumer satisfaction.

True.
Solution:
As they lay down the code of conduct for their members which are expected to be followed while dealing with the consumers.

True.
Solution:
As it helps to know about their rights and reliefs available to them.

True, consumer protection has a moral justification for business. It is the moral duty of every business to protect the interests of its customers. Business organisations must follow ethical values and any form of exploitation of the consumers such as unfair trade practices, adulteration, etc. must be avoided.

False.
Solution:
As 'Hallmark' is used to check the authenticity of jewellery.

True, The Consumer Protection Act, 1986 provides for protection of consumer interests against defective goods, deficiency in services and other such forms of exploitation.

True, The Consumer Protection Act, 1986 provides for six consumer rights, namely-

1. Right to Safety.
2. Right to be Informed.
3. Right to Choose.
4. Right to be Heard.
5. Right to seek Redressal.
6. Right to consumer Education.

False.
Solution:
As District Forum deals with the cases when the value of goods or services against which complaint is made, along with compensation claimed does not exceeds ₹ 20 lakhs.

True, in addition to rights, a consumer also has some responsibilities such as being aware of the availability of various goods and services; being informed of the price, weight, expiry date, etc. of the goods; asking for bills and cash memo while purchasing goods and services.

False, ISI is the quality certification mark used in case of goods other than food products.For food products the quality certification mark is known as FPO.

True.
Solution:
As the government acts as a means of consumer protection by enacting various legislations and regulations such as the Consumer Protection Act, 1986.

True.
Solution:
As they empower consumers to fight against any unscrupulous, exploitative and unfair trade practice adopted by any seller or manufacturer.

True.
Solution:
As only the ISI marked electrical goods are standardised goods.