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Business Studies

Importance of Consumer Protection for Consumers

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Question

Write a word or phrase or a term which can substitute each one of the following.

Running efficient business is the responsibility of business towards this group.

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Solution

Running efficient business is the responsibility of business towards this group- Owner

Explanation:

It is the ethical responsibility of a business organisation towards its owners to run the business efficiently. Organisations should make maximum utilisation of their resources, with no or minimum wastage. Also, providing fair returns on investments is the responsibility of organisations towards their investors.

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