Self-regulation by a business act as a means of consumer protection. State true or false.

True

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False

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Solution

The correct option is A
True

True. Big business houses have realised that their long-term interest lies in the satisfaction and welfare of the customers. Thus, they follow ethical standards and set up customer service centers to redress the problems and grievances of their customers.

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Similar questions

How does self-regulation by business persons help in consumer protection?

A business can decide to follow ethical standards and consumer protection law at the production stage itself. State true or false.

As a consumer you are not in a position to resolve your grievance under the Consumer Protection Act. State true or false.

State whether the following statements are true or false.

(i) Consumer Protection has a moral Justification for business.

(ii) In addition to rights, a consumer also has some responsibilities.

(iii) A complaint can be made to a District Forum when the value of the goods or services in question, along with the compensation claimed, exceeds Rs. 20 Lakhs

(iv) The Consumer Protection Act provided for six consumer rights.

(v) ISI is the quality certification mark use in case of food products.

(vi) Under the Consumer Protection Act, a complaint can be filed by a consumer for a defective good and also for deficiency in service.

'Consumer protection isn't necessary as consumers are aware of all their rights and responsibilities'. State true and false.

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Self-regulation by a business act as a means of consumer protection. State true or false.

The correct option is A True True. Big business houses have realised that their long-term interest lies in the satisfaction and welfare of the customers. Thus, they follow ethical standards and set up customer service centers to redress the problems and grievances of their customers.

The correct option is A
True

True. Big business houses have realised that their long-term interest lies in the satisfaction and welfare of the customers. Thus, they follow ethical standards and set up customer service centers to redress the problems and grievances of their customers.