Consumer Protection

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

According to the Competition and Consumer Act 2010, what happens if you receive unordered goods?

• You must pay for them immediately

• You must use the goods within one month

• If you write a letter, the goods become your property after three months

• If you write a letter, the goods become your property after one month

What is the primary role of the ACCC?

• To promote international trade agreements

• To oversee environmental regulations

• To administer and enforce the Competition and Consumer Act 2010 and other legislation

• To manage foreign relations with neighboring countries

How does misleading advertising affect consumers?

• It offers products at reduced prices

• It provides accurate information about products

• It creates a false impression of the product's nature or quality

• It guarantees product availability at all times

The FDIC insured deposit limit is

• $150,000

• $200,000

• $250,000

• $300,000

A major step taken by the Indian Government was the enactment of the Consumer Protection Act, popularly known as COPRA.

• 1991

• 1999

• c) 1984

• 1986

Which of the following are forms of Consumer Exploitation?

• Underweight

• High Prices

• Poor After sale service

• All of the above

What are the causes of Consumer exploitation in India?

• Lack of Information

• Advertisement

• Illiteracy

• All the above

In a Pyramid Scheme, most of the commissions you get paid for recruiting others goes to the people above you who recruited you.

• True

• False

A nonprofit agency sponsored by local businesses that helps to resolve disputes between consumers and sellers.

• Federal Trade Commission (FTC)

• Walmart

• Better Business Bureau (BBB)