Which of the following pairs of a point of importance of consumer protection and what it says is correctly matched?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Social responsibility – Consumers form an important group among the many stakeholders of business.
Option (1) Unorganised consumers – Consumers need protection against the malpractices of sellers. — Incorrect. Protection against the malpractices of sellers is said under widespread exploitation of consumers. Unorganised consumers need to form consumer organisations.
Option (2) Moral justification – Satisfied customers lead to repeat sales and good feedback. — Incorrect. Repeat sales and good feedback come under long-term interest of business. Moral justification is the moral duty of a business not to exploit consumers.
Option (3) Long-term interest of business – A business engaging in exploitative trade practices would invite government action. — Incorrect. Inviting government action is the point of government intervention. Long-term interest is about satisfied customers who come back and bring others.
Option (4) Social responsibility – Consumers form an important group among the many stakeholders of business. — Correct. A business has duties towards many interest groups. It earns by selling to consumers, so consumers are an important stakeholder group, and their interest must be taken care of.
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: |