NCERT Solutions for Class 12 Business Studies Chapter 12 Consumer Protection
Class 12 Business Studies Solutions Chapter 12 Consumer Protection By StudyEducation Short Answer Type Questions 1 . Explain the importance of consumer protection from the point of view of business. Ans: A business can not survive without paying attention on protecting the consumers interest and adequately satisfying them. This is important because of the following reasons (i) Long Term Interest of Business Business firms should aim at long term profit maximisation through customer satisfaction. Satisfied customers not only lead to repeat sales but also provide good feedback to prospective customers and thus help in increasing the customer base of business. (ii) Business uses Society’s Resources Business organisation uses resources which belong to the society, thus they have a responsibility to supply such products and render such services which are in public interest. (iii) Social Responsibility A business has social resposibility towards various interest groups. Business organisation...