Quiz on Consumer Protection

The practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace is known as

• consumer protection
• market regulation
• product liability
• trade compliance

All of the following are agencies and organizations that protect the consumers in your country except

• A nonprofit organization advocating for fair trade.
• A business organization that does not focus on consumer protection.
• A government agency focused on consumer rights.
• A consumer advocacy group promoting safety standards.

All of the following are forms of consumer protection except

• Price regulation
• Advertising standards
• Product warranties
• Monopolistic practices

What action should you take if a local retailer sells an item above the recommended government controlled price

• Ignore the price and purchase the item anyway.
• Negotiate a lower price with the retailer.
• Report the retailer to the appropriate regulatory authority.
• Buy the item from a different retailer without reporting.

They enact legislation, establish consumer protection agencies and organize educational programmes to protect consumers. The above statement describe the role of the

• government agencies or regulatory bodies
• non-profit organizations
• private companies
• international trade associations

The Public Utilities Board fixes the prices that are charged for utilities, for example, telephone, water and electricity. The purpose of this is to

• regulate only the prices of electricity
• limit consumer choices in utilities
• increase profits for utility companies
• ensure fair and reasonable pricing for consumers