This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 12 Consumer Protection – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 12 Consumer Protection Quiz 5 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Last year, we lost a lot of customers ..... our competitor A) For. B) On. C) To. D) With. Show Answer Correct Answer: C) To. 2. A company markets a product with potential hazards. Which principle most directly obliges the firm to disclose risks and ensure safety? A) Caveat emptor:buyer must beware. B) Caveat venditor:seller must beware. C) Pacta sunt servanda:keep promises. D) Res ipsa loquitur:thing speaks for itself. Show Answer Correct Answer: B) Caveat venditor:seller must beware. 3. What is the term for selling goods at a higher price due to artificial scarcity? A) False weights. B) Adulteration. C) Misleading advertisement. D) Hoarding. Show Answer Correct Answer: D) Hoarding. 4. Which is gateway to internet A) Portal. B) CPU. C) Modem. D) None of the above. Show Answer Correct Answer: C) Modem. 5. Someone who acquires goods and services for direct use of ownership rather than for resale or use in production and manufacturing A) Reseller. B) Consumer. C) Distributor. D) Businessman. Show Answer Correct Answer: B) Consumer. 6. ..... mark is used for electrical products. A) ISI. B) FPO. C) ISO. D) Agmark. Show Answer Correct Answer: A) ISI. 7. What is the right to safety as per the Consumer Protection Act? A) Right to be protected against hazardous goods and services. B) Right to unhealthy environment. C) Right to monopolize the market. D) Right to unfair trade practices. Show Answer Correct Answer: A) Right to be protected against hazardous goods and services. 8. A guarantee, usually by a seller to a buyer, that a product will perform as promised. A) Their word. B) Warranty. C) Trade. D) Offer. Show Answer Correct Answer: B) Warranty. 9. What role does the concept of 'strict liability' play in product liability cases? A) It requires proof of negligence. B) It holds manufacturers liable regardless of fault. C) It limits claims to warranty breaches. D) It only applies to defective services. Show Answer Correct Answer: B) It holds manufacturers liable regardless of fault. 10. How can consumers report violations of their rights? A) Consumers can report violations of their rights to consumer protection agencies or regulatory bodies. B) Consumers can only report violations through social media. C) Consumers can report violations to their friends. D) Consumers should ignore violations and move on. Show Answer Correct Answer: A) Consumers can report violations of their rights to consumer protection agencies or regulatory bodies. 11. The FOS only gets involved if a ..... cannot be resolved between the two parties. A) Complaint. B) Agreement. C) Contract. D) Discussion. Show Answer Correct Answer: A) Complaint. 12. Which agency is responsible for insuring deposits at federally insured credit unions? A) Federal Reserve. B) National Credit Union Administration (NCUA). C) Securities and Exchange Commission. D) Internal Revenue Service. Show Answer Correct Answer: B) National Credit Union Administration (NCUA). 13. To seek and receive a remedy to a problem A) Small claims court. B) Bait and switch. C) Redress. D) None of the above. Show Answer Correct Answer: C) Redress. 14. Consumer organisations are making efforts to ..... their number. A) Increase. B) Decrease. C) Stabilise. D) None of the above. Show Answer Correct Answer: A) Increase. 15. Which statement best captures the shift from caveat emptor to caveat venditor in modern markets? A) Sellers must meet regulatory standards protecting buyers. B) Buyers rely solely on personal judgment for product safety. C) Government no longer intervenes in consumer protection. D) Consumers cannot seek advice from public agencies. Show Answer Correct Answer: A) Sellers must meet regulatory standards protecting buyers. 16. ..... are directives by courts or agencies like the FTC to sop unlawful practices. A) Bait & Switch. B) Product liability. C) Strict Liability. D) Cease & Desist. Show Answer Correct Answer: D) Cease & Desist. 17. The type of products which require ISI mark for assurance of quality are A) Chemical products. B) Agricultural products. C) Food products. D) Electrical products. Show Answer Correct Answer: D) Electrical products. 18. Which of the following is NOT a method for lodging consumer complaints? A) Direct contact with the business. B) Filing a complaint with the Better Business Bureau. C) Posting a negative review on social media. D) Using online consumer protection platforms. Show Answer Correct Answer: C) Posting a negative review on social media. 19. Lily is shopping online and comes across a website that seems to be offering great deals. Which of the following is NOT included in the Consumer Protection from Unfair Trading Regulations (2008) when she is evaluating the website's practices? A) Making false messages. B) Using aggressive sales techniques. C) Offering discounts. D) Missing important product details. Show Answer Correct Answer: C) Offering discounts. 20. What actions did the U.S government take in order to oversee environmental issues? A) Community Reinvestment Act & Clean Air Act. B) Clean Water Act, S.A.L.T, & Camp David Accords. C) Clean Water Act, Endangered Species Act, & Clean Air Act. D) Clean Air Act, Peace through Strength, & Clean Water Act. Show Answer Correct Answer: C) Clean Water Act, Endangered Species Act, & Clean Air Act. 21. Which scenario best illustrates price fixing as an unfair method of competition? A) A firm lowers prices to clear excess inventory. B) Two rivals independently match seasonal discounts. C) Two companies agree to set identical fares to end price wars. D) An airline uses dynamic pricing during holidays. Show Answer Correct Answer: C) Two companies agree to set identical fares to end price wars. 22. Consumer has right to express his/her interest in the making and execution of government policies A) Right to Consumer Education. B) Right to Redress. C) Right to Representation. D) Right to Information. Show Answer Correct Answer: D) Right to Information. 23. What is the age limit of members of State Consumer Dispute Redressal Forum? A) 65. B) 67. C) 56. D) 70. Show Answer Correct Answer: B) 67. 24. Statement I:In India, several consumer organisations and non-governmental organisations (NGOs) have been set up for the protection and promotion of consumers' interests. Statement II:They have a constitution of their own and are free from government interference. A) Statement I is true and II is false. B) Statement II is true and I is false. C) Both the statements are true. D) Both the statements are false. Show Answer Correct Answer: C) Both the statements are true. 25. Credit abuse includes: A) Predatory lending. B) Using your own card responsibly. C) Saving money. D) Working extra ho. Show Answer Correct Answer: A) Predatory lending. ← PreviousNext →Related QuizzesClass 12 Business Studies Chapter 12 Consumer Protection Quiz 1Class 12 Business Studies Chapter 12 Consumer Protection Quiz 2Class 12 Business Studies Chapter 12 Consumer Protection Quiz 3Class 12 Business Studies Chapter 12 Consumer Protection Quiz 4Class 12 Business Studies Chapter 12 Consumer Protection Quiz 6Class 12 Business Studies Chapter 12 Consumer Protection Quiz 7Class 12 Business Studies Chapter 12 Consumer Protection Quiz 8Class 12 Business Studies Chapter 12 Consumer Protection Quiz 9Class 12 Business Studies Chapter 12 Consumer Protection Quiz 10Class 12 Business Studies Chapter 12 Consumer Protection Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books