- A. Date of expiry unspecified
- B. Price of the commodity
- C. Batch number of the commodity
- D. Address of the manufacturer
c) Batch number of the commodity
c) Batch number of the commodity
- A. Unfair trade practices
- B. Wide range of goods
- C. Standard quality goods
- D. Volume of production
a) Unfair trade practices
a) Unfair trade practices
- A. Investment in production
- B. Decision in sale of goods
- C. Credit purchase of goods
- D. Decision in purchase of goods
d) Decision in purchase of goods
d) Decision in purchase of goods
- A. Three tier system
- B. One tier system
- C. Two tier system
- D. Four tier system
a) Three tier system
a) Three tier system
- A. Purification
- B. Adulteration
- C. Refinement
- D. Alteration
b) Adulteration
b) Adulteration
Buying and selling
2. In regulated Markets, there is some oversight by appropriate ………………. authorities.
government
3. …………… refers to a market structure in which there is a single producer or seller that has a control on
the entire market.
Monopoly
4. ……………… statue is regarded as the ‘Magna Carta’ in the field of consumer protection for checking
unfair trade practices.
COPRA
Buying and selling
2. In regulated Markets, there is some oversight by appropriate ………………. authorities.
government
3. …………… refers to a market structure in which there is a single producer or seller that has a control on
the entire market.
Monopoly
4. ……………… statue is regarded as the ‘Magna Carta’ in the field of consumer protection for checking
unfair trade practices.
COPRA
Local Markets
2. …………….. covers a wider area than local markets like a district, or a cluster of few smaller states.
Regional Markets
3. ………….. is the demand for the goods is limited to one specific country.
National Market
4. When the demand for the product is international and the goods are also traded internationally in bulk quantities, is called as ……………..
international market
5. There is no system of credit in ………………
Spot market
6. ……………….. is a highly regulated market
Regulated Market
7. …………….. refers to a market structure.
Monopoly
8. TRAI means ……………
Ans:
Telecom Regulatory Authority of India.
9. IRDAI means ……………….
Insurance – Regulatory and Development Authority of India
10. The Bureau of Indian Standards Act was passed in …………………..
1986
Local Markets
2. …………….. covers a wider area than local markets like a district, or a cluster of few smaller states.
Regional Markets
3. ………….. is the demand for the goods is limited to one specific country.
National Market
4. When the demand for the product is international and the goods are also traded internationally in bulk quantities, is called as ……………..
international market
5. There is no system of credit in ………………
Spot market
6. ……………….. is a highly regulated market
Regulated Market
7. …………….. refers to a market structure.
Monopoly
8. TRAI means ……………
Ans:
Telecom Regulatory Authority of India.
9. IRDAI means ……………….
Insurance – Regulatory and Development Authority of India
10. The Bureau of Indian Standards Act was passed in …………………..
1986
- A. 1955
- B. 1986
- C. 2009
- D. 1986
A
B
1. The Consumer Protection Act
c) 2009
2. The Legal Metrology Act
b) 1986
3. The Bureau of Indian Standards
d) 1986
4. The Essential Commodities Act
a) 1955
A
B
1. The Consumer Protection Act
c) 2009
2. The Legal Metrology Act
b) 1986
3. The Bureau of Indian Standards
d) 1986
4. The Essential Commodities Act
a) 1955
- A. Both, A and R, are true and R is the correct explanation of A
- B. Both, A and R, are true but R is not the correct explanation of A
- C. If A is true but R is false
- D. If A is false but R is true
b) Both, A and R, are true but R is not the correct explanation of A
b) Both, A and R, are true but R is not the correct explanation of A
Consumer protection is a group of laws enacted to protect the rights of consumers, fairtrade, competition, and accurate information in the marketplace.
This Act was enacted in 1986 in the Parliament of India to protect the interests of consumers.
Consumer protection is a group of laws enacted to protect the rights of consumers, fairtrade, competition, and accurate information in the marketplace.
This Act was enacted in 1986 in the Parliament of India to protect the interests of consumers.
The Right to Basic Needs.
The Right to Safety.
The Right to Information.
The Right to Choose.
The Right to representation.
The Right to Redress.
The Right to Consumer Education.
The Right to a Healthy Environment.
The Right to Basic Needs.
The Right to Safety.
The Right to Information.
The Right to Choose.
The Right to representation.
The Right to Redress.
The Right to Consumer Education.
The Right to a Healthy Environment.
Consumer courts in India:
National Consumer Disputes Redressal Commission (NCDRC):
A national-level court works for the whole country and deals compensation claimed exceeds rupees one crore.
The National Commission is the Apex body of Consumer Courts; it is also the highest appellate court in the hierarchy.
The National Consumer Disputes Redressal Commission (NCDRC),
It is a quasi-judicial commission in India which was set up in 1988 under the Consumer Protection Act of 1986.
Its head office is in New Delhi.
State Consumer Disputes Redressal Commission (SCDRC):
A state-level court works at the state level with cases where compensation claimed is above 20 lakhs but up to one core.
District Consumer Disputes Redressal Forum (DCDRF):
A district-level court works at the district level with cases where the compensation claimed is up to 20 lakhs.
Consumer courts in India:
National Consumer Disputes Redressal Commission (NCDRC):
A national-level court works for the whole country and deals compensation claimed exceeds rupees one crore.
The National Commission is the Apex body of Consumer Courts; it is also the highest appellate court in the hierarchy.
The National Consumer Disputes Redressal Commission (NCDRC),
It is a quasi-judicial commission in India which was set up in 1988 under the Consumer Protection Act of 1986.
Its head office is in New Delhi.
State Consumer Disputes Redressal Commission (SCDRC):
A state-level court works at the state level with cases where compensation claimed is above 20 lakhs but up to one core.
District Consumer Disputes Redressal Forum (DCDRF):
A district-level court works at the district level with cases where the compensation claimed is up to 20 lakhs.
On the Basis of Geographic Location:
Local Markets: In such a market the buyers and sellers are limited to the local region or area.
Regional Markets: These markets cover a wider are than local markets like a district, or a cluster of few smaller states
National Market: This is when the demand for the goods is limited to one specific country. Or the government may not allow the trade of such goods outside national boundaries.
International Market: When the demand for the product is international and the goods are also traded internationally in bulk quantities, we call it an international market.
On the Basis of Time:
Very Short Period Market: This is when the supply of the goods is fixed, and so it cannot be changed instantaneously. For example the market for flowers, vegetables. Fruits etc.
Short Period Market: The market is slightly longer than the previous one. Here the supply can be slightly adjusted. Example: The demand of fish, milk or egg,
Long Period Market: Here the supply can be changed easily by scaling production. So it can change according to the demand of the market.
On the Basis of Nature of Transaction
Spot Market: This is where spot transactions occur, that is the money is paid immediately. There is no system of credit.
Future Market: This is where the transactions are credit transactions. There is a promise to pay the consideration sometime in the future.
On the Basis of Regulation:
Regulated Market: In such a market there is some oversight by appropriate government authorities. For example, the stock market is a highly regulated market.
Unregulated Market: This is an absolutely free market. There is no oversight or regulation, the market forces decide everything.
On the basis of Nature of competition:
Monopoly: Monopoly refers to a market structure in which there is a single producer or seller that has control over the entire market. This single seller deals in products that have no close substitutes.
Monopolistic Competition: Monopolistic competition refers to a market situation in which there are a large number of buyers and sellers of products.
7th Social Science Guide Market and Consumer Protection Additional Important Questions and Answers
On the Basis of Geographic Location:
Local Markets: In such a market the buyers and sellers are limited to the local region or area.
Regional Markets: These markets cover a wider are than local markets like a district, or a cluster of few smaller states
National Market: This is when the demand for the goods is limited to one specific country. Or the government may not allow the trade of such goods outside national boundaries.
International Market: When the demand for the product is international and the goods are also traded internationally in bulk quantities, we call it an international market.
On the Basis of Time:
Very Short Period Market: This is when the supply of the goods is fixed, and so it cannot be changed instantaneously. For example the market for flowers, vegetables. Fruits etc.
Short Period Market: The market is slightly longer than the previous one. Here the supply can be slightly adjusted. Example: The demand of fish, milk or egg,
Long Period Market: Here the supply can be changed easily by scaling production. So it can change according to the demand of the market.
On the Basis of Nature of Transaction
Spot Market: This is where spot transactions occur, that is the money is paid immediately. There is no system of credit.
Future Market: This is where the transactions are credit transactions. There is a promise to pay the consideration sometime in the future.
On the Basis of Regulation:
Regulated Market: In such a market there is some oversight by appropriate government authorities. For example, the stock market is a highly regulated market.
Unregulated Market: This is an absolutely free market. There is no oversight or regulation, the market forces decide everything.
On the basis of Nature of competition:
Monopoly: Monopoly refers to a market structure in which there is a single producer or seller that has control over the entire market. This single seller deals in products that have no close substitutes.
Monopolistic Competition: Monopolistic competition refers to a market situation in which there are a large number of buyers and sellers of products.
7th Social Science Guide Market and Consumer Protection Additional Important Questions and Answers
- A. Future Market
- B. Local Market
- C. Regional Market
- D. National Market
a) Future Market
a) Future Market
- A. Arabic
- B. Greek
- C. Tamil
- D. none
b) Greek
b) Greek
- A. 1933
- B. 1986
- C. 1968
- D. 1965
b) 1986
b) 1986
- A. November 1988
- B. October 1986
- C. October 1968
- D. December 1976
b) October 1986
b) October 1986
- A. November 1988
- B. October 2018
- C. October 2019
- D. August 2019
d) August 2019
d) August 2019
“Goods once sold will not be taken back”
“No exchange”
“No refund under any circumstances”
“Goods once sold will not be taken back”
“No exchange”
“No refund under any circumstances”
E-Commerce Transactions
Enhancement of Pecuniary Jurisdiction
E-Filing of complaints
Penalties for Misleading Advertisement
Posted in Class 7 on October 7, 2024 October 8, 2024
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E-Commerce Transactions
Enhancement of Pecuniary Jurisdiction
E-Filing of complaints
Penalties for Misleading Advertisement
Posted in Class 7 on October 7, 2024 October 8, 2024
Leave a Reply Cancel reply
You must be logged in to post a comment.
Facebook
Twitter
Instagram
Pinterest
Copyright © 2026 Samacheer Kalvi