NCERT Economics Class 10 Chapter 5 Consumer Rights CBSE Board Sample Problems Short Answer (For CBSE, ICSE, IAS, NET, NRA 2022)

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Question

“Rules and regulations are required for the protection of consumers in the market place.” Justify the statement with arguments.

Solution

Rules and regulations are required for the protection of consumers in the market place due to the following reasons:

  • Sometimes, traders indulge in unfair trade practices such as underweight, under measurement, adulteration, hoarding etc.
  • Most of the consumers are unaware of their rights and they are often deceived by the suppliers.
  • Whenever a complaint regarding goods or services is made, the seller tries to shift all the responsibility on the buyer.
  • Sometimes, the sellers make false claims about the durability and quality of their products through advertisements and catchy slogans.
  • Sometimes, the sellers create artificial scarcity through hoarding and black marketing to sell the goods at higher prices.
  • Sometimes, the sellers indulge in adulteration of goods and provide poor quality goods in order to achieve the goals of profit and growth.

Question

‘Consumer awareness is essential to avoid exploitation in the market place.’ Support the statement.

Solution

Consumer awareness is essential to avoid exploitation in the market place as:

  • Consumers must be aware of not only the goods and services but also legal measures to protect themselves.
  • If consumers are actively involved, companies will also be on their guard to provide better goods and services.
  • Consumers must be aware of anti-social activities like hoarding, black marketing etc.
  • It makes consumer a rational consumer having knowledge of how market works.
  • It enables consumer to be aware of government policies for certification marks such as ISI, Agmark that ensure product quality for consumers.
  • It enables consumer to use Right to Information Act (RTI) to get information on functioning of government departments.