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Business Studies · 2024 · 4 marks
CBSE 2024 · Region 3 · Set 2 · Q28
State any four points of importance of consumer protection from the point of view of business.
State any four points of importance of consumer protection from the point
of view of business.
Marking-scheme solution
Importance of consumer protection from the point of view
of business
(i)
It is in the long-term interest of business to satisfy their
customers as it leads to repeat sales and helps in
increasing the customer-base of business.
(ii)
Business uses society’s resources so it becomes the
responsibility to supply such products and render such
services which are in public interest.
(iii)
A business has social responsibility to protect the
interest of various interest groups and consumer interest
has to be taken care of.
(iv)
It is the moral duty of any business to take care of the
consumer`s interest and avoid any form of exploitation.
(v)
A business engaging in any form of exploitative trade
practices would invite Government intervention.
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CBSE Class 12 Business Studies past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.