Identify the importance of Consumer Protection, which is not from the consumers' point of view.

Social Responsibility

The correct answer is option (3) : Social Responsibility

From Consumers' point of view

• Consumer Ignorance: In the light of widespread ignorance of consumers about their rights and reliefs available to them, it becomes necessary to educate them about the same so as to achieve consumer awareness

• Unorganised Consumers: Consumers need to be organised in the form of consumer organisations which would take care of their interests

• Widespread Exploitation of Consumers: Consumers might be exploited by unscrupulous, exploitative and unfair trade practices like defective and unsafe products, adulteration, false and misleading advertising, hoarding, black- marketing, etc.

From the point of view of Business

• Social Responsibility : A business has social responsibilities towards various interest groups. Business organisations make money by selling goods and providing services to consumers