A business must lay emphasis on protecting the consumers and adequate…

A business must lay emphasis on protecting the consumers and adequately satisfying them.

Which of the following points highlight the importance of consumer protection from the point of view of business?

A) Moral justification
B) Business uses society’s resources
C) Consumer ignorance
D) Long-term interest of business

Choose the correct answer from the options given below:

Answer & explanation

Correct answer: option 3

The correct answer is Option (3) → A, B, D

A) Moral justification — Correct. It is the moral duty of a business to look after consumers and not exploit them.

B) Business uses society’s resources — Correct. Business uses resources that belong to society, so it must serve public interest.

C) Consumer ignorance — Incorrect. This is a reason from the consumers’ point of view. Consumers who do not know their rights and reliefs must be educated.

D) Long-term interest of business — Correct. Satisfied customers bring repeat sales and good feedback, so the business gains in the long run.

NCERT (2026-27 Edition): “From the point of view of Business A business must also lay emphasis on protecting the consumers and adequately satisfying them. This is important because of the following reasons:
(i) Long-term Interest of Business: Enlightened businesses realise that it is in their long-term interest to satisfy their customers. Satisfied customers not only lead to repeat sales but also provide good feedback to prospective customers and thus, help in increasing the customer-base of business. Thus, business firms should aim at long-term profit maximisation through customer satisfaction.
(ii) Business uses Society’s Resources: Business organisations use resources which belong to the society. They, thus, have a responsibility to supply such products and render such services which are in public interest and would not impair public confidence in them.
(iii) Social Responsibility: A business has social responsibilities towards various interest groups. Business organisations make money by selling goods and providing services to consumers. Thus, consumers form an important group among the many stakeholders of business and like other stakeholders, their interest has to be well taken care of.
(iv) Moral Justification: It is the moral duty of any business to take care of consumer’s interest and avoid any form of their exploitation. Thus, a business must avoid unscrupulous, exploitative and unfair trade practices like defective and unsafe products, adulteration, false and misleading advertising, hoarding, black marketing, etc.”