Correct Answer: District Consumer Disputes Redressal Forum

Solution : The correct answer is (d) District Consumer Disputes Redressal Forum

The District Consumer Disputes Redressal Forum in India is responsible for addressing consumer complaints and disputes related to the purchase of goods and services, including cases of deceptive or misleading practices. They can help the consumer seek redress and potentially rule in their favor, ensuring that the dealer follows consumer protection laws. The other options listed are not the appropriate authorities for addressing this specific consumer grievance.

Correct Answer: Both the assertion and reason are true, and the reason is a correct explanation of the assertion.

Solution : The correct answer is (a) Both the assertion and reason are true, and the reason is a correct explanation of the assertion.

The assertion is true. In an oligopoly, a small number of firms have significant market power and control a substantial portion of the market. These firms often compete with each other for market share.

The reason provided is also true. Oligopolistic firms often rely on strategies other than price to differentiate themselves and attract customers. This can include advertising campaigns, product innovation, branding, and other forms of non-price competition. These strategies allow firms to create a perceived difference in their products or services and compete based on factors other than price.

Therefore, both the assertion and reason are true, and the reason correctly explains why oligopolistic firms tend to engage in non-price competition.

Correct Answer: Introduction of a new technique that makes the production of that commodity cheaper

Solution : A new technique that makes it cheaper to produce the goods best explains a shift to the right in the market supply curve. A shift to the right in the supply curve, such as from new manufacturing technology, results in a lower equilibrium price and a higher quantity.

Correct Answer: Lodge a complaint with the District Consumer Disputes Redressal Forum.

Solution : The correct answer is (b) Lodging a complaint with the District Consumer Disputes Redressal Forum.

The District Consumer Disputes Redressal Forum is the appropriate authority to address consumer complaints and disputes, including issues with defective products. They can help resolve the matter, and in many cases, they may rule in favor of the consumer, ensuring that the store follows consumer protection laws.

Correct Answer: The responsiveness of demand to changes in consumer income.

Solution : The correct answer is (c) The responsiveness of demand to changes in consumer income.

Income elasticity of demand measures the sensitivity or responsiveness of the quantity demanded of a good or service to changes in consumer income. It helps businesses understand how changes in consumer income levels can affect the demand for their products or services.

By analyzing income elasticity of demand, businesses can determine whether their goods or services are normal goods, inferior goods, or luxury goods. 

If the income elasticity of demand is positive, it indicates that the good is a normal good, meaning that as consumer income increases, the demand for the good also increases. 

 If the income elasticity of demand is negative, it indicates that the good is an inferior good, meaning that as consumer income increases, the demand for the good decreases. Inferior goods are often replaced with higher-quality substitutes as income rises.

If the income elasticity of demand is greater than 1, it suggests that the good is a luxury good, meaning that the demand for the good increases at a proportionately higher rate than income.

Understanding the income elasticity of demand helps businesses make informed decisions about product development, pricing strategies, marketing efforts, and target markets based on changes in consumer income levels.

Correct Answer: Lodge a complaint with the District Consumer Disputes Redressal Forum.

Solution : The correct answer is (b) Lodge a complaint with the District Consumer Disputes Redressal Forum.

In this situation, where the consumer purchased a set of expensive speakers that stopped functioning shortly after purchase and the store refused a replacement based on a policy, the consumer can typically lodge a complaint with the District Consumer Disputes Redressal Forum. These forums handle consumer complaints and disputes, and they can help in resolving issues related to defective or non-functional products. It's important for consumers to be aware of their rights and pursue a resolution through the appropriate consumer forum.

Correct Answer: Both statements are incorrect.

Solution : The correct answer is (c) Both statements are incorrect.

Statement 1 is incorrect. The selling concept primarily focuses on short-term sales and transactions rather than building long-term customer loyalty. It often involves aggressive sales tactics to close deals.

Statement 2 is false. The marketing concept does not solely rely on aggressive advertising for sales. The marketing concept involves understanding customer needs, creating valuable products or services, and effectively promoting them, considering a holistic approach to meet both customer satisfaction and business goals.

Therefore, statement 1 is incorrect, and statement 2 is false.

Correct Answer: Assessing the bias and perspective of the reports
 

Solution : Assessing the bias and perspective of the reports is a key methodology for analyzing newspaper reports as a source of history, as it helps in understanding the context and intentions behind the information presented.

Correct Answer: Selling Concept

Solution : The correct answer is (c) Selling Concept.

The Selling Concept is a marketing philosophy that centers on aggressive sales and promotional efforts to convince customers to purchase a company's products or services. The belief behind this concept is that customers won't buy enough unless a significant sales and promotional push is applied to stimulate demand and drive sales. The primary goal is to sell what the company produces, often with less consideration for customer needs or value, hence the emphasis on aggressive selling and promotional efforts.