The Importance of Consumer Protection from a consumer's point of view is:
(A) Social Responsibility
(B) Widespread exploitation of Consumers
(C) Unorganized Consumers
(D) Consumer Ignorance
Choose the correct answer from the options given below:
The Importance of Consumer Protection from a consumer's point of view is:
(A) Social Responsibility
(B) Widespread exploitation of Consumers
(C) Unorganized Consumers
(D) Consumer Ignorance
Choose the correct answer from the options given below:
Solution
Option 1 -> (A), (B) and (D) only - Includes social responsibility which is a business perspective, not a consumer's viewpoint for needing protection.
Option 2 -> (A), (B) and (C) only - Includes social responsibility which is not why consumers seek protection; it's what businesses should practice.
Option 3 -> (A), (B), (C) and (D) - Includes social responsibility which is a business obligation, not a consumer's reason for needing protection.
Option 4 -> (B), (C) and (D) only - Correctly identifies widespread exploitation, unorganized nature of consumers, and consumer ignorance as reasons consumers need protection from their own perspective.
Hence, Option 4: (B), (C) and (D) only -> From a consumer's point of view, protection is important because they face widespread exploitation by businesses, they are unorganized and lack collective bargaining power, and they often have inadequate knowledge about products and their rights. Social responsibility (A) is a business/societal obligation, not a consumer's reason for seeking protection -> correct
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