The desirable method of consumer protection is ___________.

Imposition of self regulation and discipline by the manufacturers and traders on themselves

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Voluntary organisation of consumers

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Spreading information and awareness regarding different products

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Government legislation

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Solution

The correct option is A Imposition of self regulation and discipline by the manufacturers and traders on themselves
The desirable method of consumer protection is imposition of self-regulation and discipline by the manufacturers and traders on themselves. It helps to prevent fraudulent practices in the market place. It also promotes fair trade and accurate information in the market.
Hence, option (A) is the correct answer.

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A manufacturer sells a washing machine to a wholesaler for Rs. 20000. The wholesaler sells it to a trader at a profit of Rs. 1500 and the trader, in turn, sells it to a consumer at a profit of Rs. 2000. If the rate of VAT is 8%, the VAT received from manufacturer and wholesaler are:

Q. A manufacturer sells a washing machine to a wholesaler for Rs 15,000. The wholesaler sells it to a trader at a profit of Rs 1,200 and the trader in turn sells it to a consumer at a profit of Rs 1,800. If the rate of VAT is 8% find:
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(ii) The amount that the consumer pays for the machine
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