Question : Statement 1: The Consumer Protection Act promotes ethical business practices among producers.
Statement 2: It encourages producers to provide quality products and services to gain consumer trust.
Option 1: Both statement 1 and statement 2 are true.
Option 2: Statement 1 is true, but statement 2 is false.
Option 3: Statement 1 is false, but statement 2 is true.
Option 4: Both statement 1 and statement 2 are false.
Correct Answer: Both statement 1 and statement 2 are true.
Solution : The correct answer is (a) Both statement 1 and statement 2 are true.
Statement 1 is true. The Consumer Protection Act promotes ethical business practices among producers by establishing rules and regulations that encourage fair and transparent dealings with consumers. It discourages unfair trade practices and deceptive conduct.
Statement 2 is also true. The act encourages producers to provide quality products and services to gain consumer trust because it holds producers accountable for the quality and safety of their products. This trust-building aspect is an integral part of ethical business practices.
Question : Statement 1: The Consumer Protection Act enables consumers to form consumer protection councils.
Statement 2: These councils work towards promoting consumer awareness and protection.
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