Consumer Protection
Madhya Pradesh Board · Class 12 · Business Studies
Flashcards for Consumer Protection — Madhya Pradesh Board Class 12 Business Studies. Quick Q&A cards covering key concepts, definitions, and formulas.
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See them allWhat is a consumer according to the Consumer Protection Act 2019?
Answer
A consumer is a person who buys any goods or avails services for a consideration (payment), which has been paid or promised, or partly paid. It includes any user of such goods or beneficiary of servic…
List all six consumer rights under the Consumer Protection Act 2019.
Answer
1. Right to Safety - protection against hazardous goods/services 2. Right to be Informed - complete product information 3. Right to Choose - access to variety of products at competitive prices 4. Righ…
What is the difference between 'defect' and 'deficiency' in consumer protection?
Answer
Defect: Any fault, imperfection, shortcoming or inadequacy in quality, nature and manner of performance in relation to goods or products. Deficiency: Any fault, imperfection, shortcoming or inadequac…
What are the jurisdiction limits for District Commission, State Commission, and National Commission?
Answer
District Commission: Cases up to ₹50 lakh State Commission: Cases exceeding ₹50 lakh but not exceeding ₹2 crore National Commission: Cases exceeding ₹2 crore Each level handles appeals from the lower…
Why is consumer protection important from the business point of view?
Answer
1. Long-term Interest: Satisfied customers lead to repeat sales and positive feedback 2. Use of Society's Resources: Businesses have responsibility to serve public interest 3. Social Responsibility: C…
What is an unfair trade practice? Give examples.
Answer
Unfair trade practice is a trade practice that falsely represents the quality, standard, quantity, composition, style or model of goods/services for promoting sales. Examples: - False/misleading adve…
What are the key consumer responsibilities mentioned in the Consumer Protection Act?
Answer
1. Be aware about goods/services available in market 2. Buy only standardized goods (ISI, FPO, Hallmark) 3. Learn about risks and use products safely 4. Read labels carefully for complete information …
What is the Central Consumer Protection Authority (CCPA) and what is its role?
Answer
The CCPA is a central authority established under the Consumer Protection Act 2019 to regulate matters relating to: - Violation of consumer rights - Unfair trade practices - False or misleading advert…
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