The reasons for protecting consumers from the point of view of business are:
A. Business uses society’s resources
B. Moral justification
C. Government intervention
D. Social responsibility
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A), (B), (C) and (D)
(A) Business uses society’s resources — Correct. It is one of the five reasons why consumer protection matters from the point of view of business. Business uses the resources of society, so it has a duty to supply goods and services that serve the public interest.
(B) Moral justification — Correct. It is the moral duty of business to look after consumers. It should avoid unfair practices such as unsafe products, adulteration, false advertising, hoarding and black marketing.
(C) Government intervention — Correct. A business that exploits consumers invites action by the government, which can spoil its image. It is wiser to protect consumers on its own.
(D) Social responsibility — Correct. Business has a responsibility towards many groups, such as owners, workers, government and consumers. Satisfying consumers is part of it.
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: “(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. …” “(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. …” “(v) Government Intervention: A business engaging in any form of exploitative trade practices would invite government intervention or action. …” |