Laxmi

Enhance your subject knowledge with Tamilnadu State Board Solutions for 20th Commerce Chapter 20 Liberalization, Privatization and Globalization Questions and Answers and learn all the underlying concepts easily. Make sure to learn the subject from Tamilnadu State Board Solutions Chapter 20 Liberalization, Privatization and Globalization Questions and Answers PDF on a day to day basis and score well in your exams. You can Download Samacheer Kalvi 20th Commerce Book Solutions Questions and Answers are given after enormous research by people having high subject knowledge and for better scoring grade. You can rely on them and prepare any topic of Commerce as per your convenience easily.

Tamilnadu Samacheer Kalvi 12th Commerce Solutions Chapter 20 Liberalization, Privatization and Globalization

Students those who are looking for Tamilnadu State Board Solutions Chapter 20 Liberalization, Privatization and Globalization Questions and Answers Concepts can find them all in one place from our site Tamilnadu State Board Solutions. Simply click on the links available to prepare the corresponding topics of Samacheer Kalvi 20th Commerce Book Solutions Questions and Answers easily. Clarify all your queries from chapter wise different questions to be familiar with the kind of questions appearing in the exam. Thus, you can increase your score and get higher grade in the final exam.

Samacheer Kalvi 12th Commerce Liberalization, Privatization and Globalization Textbook Exercise Questions and Answers

I. Choose the Correct Answer

Question 1.
_______ is the result of New Industrial Policy which abolished the ‘License System’
(a) Globalisation
(b) Privatisation
(c) Liberalisation
(d) None of these
Answer:
(c) Liberalisation

Question 2
_______ means permitting the private sector to setup industries which were previously reserved for public sector.
(a) Liberalisation
(b) Privatisation
(c) Globalisation
(d) Public Enterprise
Answer:
(b) Privatisation

Question 3
_______ ownership makes bold management decisions due to their strong foundation in
the international level.
(a) Private
(b) Public
(c) Corporate
(d) MNC’s
Answer:
(a) Private

Question 4.
_______ results from the removal of barriers between national economies to encourage the flow of goods, services, capital and labour.
(a) Privatisation
(b) Liberalisation
(c) Globalisation
(d) Foreign Trade
Answer:
(c) Globalisation

Question 5.
New Economic Policy was introduced in the year _______
(a) 1980
(b) 1991
(c) 2013
(d) 2015
Answer:
(b) 1991

II. Very Short Answer Questions

Question 1.
State the branches of New Economic Policy.
Answer:
There are three dimensions of New Economic Policy.
They are explained as:

1. Liberalization
2. Privatization
3. Globalization

Question 2.
What is Privatisation?
Answer:
Privatization is the incidence or process of transferring ownership of a business enterprise, agency or public service from the government to the private sector.

Question 3.
Mention any three disadvantages of Liberalisation.
Answer:
Disadvantages of Liberalisation:

1. Increase in unemployment
2. Loss to domestic units
3. Increased dependence on foreign nations
4. Unbalanced development

Question 4.
Name the industries which are reserved for public sector.
Answer:
The number of industries reserved for public sector was reduced from 17 (as per 1956 policy) to only 8 industries viz, Arms and Ammunition, Atomic Energy, Coal and Lignite, Mineral oils, Mining of ores, Mining of copper, lead, zinc, etc., Minerals for atomic energy and Railways.

Question 5.
Give any three advantages of Globalisation.
Answer:
Advantages of Globalisation:

1. Increase in foreign collaboration
2. Expansion of market
3. Technological development
4. Reduction in brain drain

III. Short Answer Questions

Question 1.
What do you mean by Liberalisation?
Answer:
Liberalization refers to laws or rules being liberalized, or relaxed, by a government. Liberalizing trade policy by the government includes removal of tariff, subsidies and other restrictions on the flow of goods and services between countries. Liberalization is the result of New Industrial Policy which abolished the “License system” or “Licence Raj”.

Question 2.
Explain the concept of Privatisation.
Answer:
Privatisation means permitting the private sector to set up industries which were previously reserved for the public sector. Under this policy many Public Sector Units (PSUs) were sold to private sector. The main reason for privatisation was that PSUs were running in losses due to mismanagement and political interference.

Question 3.
What are advantages of disinvestment?
Answer:
Disinvestment in PSUs: The Govt, has started the process of disinvestment in those PSUs which had been running into loss. It means that Govt, has been selling out these industries to private sector. So disinvestment is a system of privatizing government enterprises.

Question 4.
State any three impacts on Globalisation.
Answer:
Impact of Globalization:

1. Corporations got a competitive advantage from lower operating costs, and access to new raw materials and additional markets.
2. Multinational corporations (MNCs) can manufacture, buy and sell goods worldwide.
3. Globalisation has led to a boom in consumer products market.

Question 5.
Write a short note on New Economic Policy.
Answer:
India agreed to the conditions of World Bank and IMF and announced New Economic Policy (NEP) which consists of wide range of economic reforms. This new set of economic reforms is commonly known as the LPG or Liberalisation, Privatisation and Globalisation model.

IV. Long Answer Questions

Question 1.
Explain the advantages and disadvantages of liberalisation.
Answer:
Liberalisation means relaxation of various government restrictions in the areas of social and economic policies of the country.
Advantages of Liberalisation:

1. Increase in foreign investment: If a country liberalises its trade, it will make the country – more attractive for inward investment.
2. Increase the foreign exchange reserve: Relaxation in the regulations covering foreign investmefit and foreign exchange has paved way for easy access to foreign capital.
3. Increase in consumption: Liberalization increases the number of goods available for consumption within a country

Disadvantages of Liberalisation:

1. Increase in unemployment: Due to liberalisation some industries grow, some decline. Therefore, there may be unemployment from certain industries closing.
2. Increased dependence on foreign nations: Trade liberalisation means firms will face greater competition from abroad.
3. Unbalanced development: Trade liberalisation may be damaging for developing economies. which cannot compete against free trade.

Question 2.
Explain the impact of LPG on Indian Economy.
Answer:
Impact of Liberalisation:

1. Liberalization has opened up new business opportunities abroad and increased foreign direct investment.
2. New market for various goods came into existence and resulted not only in urban but also in rural development.
3. It became very easy to obtain loans from banks for business expansion.

Impact of Privatisation:

1. Privatization has a positive impact on the financial growth by decreasing the deficits and debts.
2. Increase in the efficiency of government undertakings.
3. Provide better goods and services to the consumers.

Impact of Globalization:

1. Multinational corporations can manufacture, buy and sell goods worldwide.
2. Globalisation has led to a boom in consumer products market.
3. The advent of foreign companies and growth in economy has led to job creation.

Samacheer Kalvi 12th Commerce Liberalization, Privatization and Globalization Additional Questions and Answers

I. Choose the Correct Answer

Question 1.
It is a situation in which a country loses its most educated and talented workers to other countries is known as
(a) Liberalisation
(b) Foreign trade
(c) Brain Drain
(d) Nationalisation
Answer:
(c) Brain Drain

Question 2
is the latest outcome of liberalisation.
(a) Privatisation
(b) Globalisation
(c) Foreign collaboration
(d) None of these
Answer:
(c) Foreign collaboration

Question 3.
refers to laws or rules being liberalised or relaxed by a government.
(a) Liberalisation
(b) Privatisation
(c) Nationalisation
(d) Foreign Collaboration
Answer:
(a) Liberalisation

II. Very Short Answer Questions

Question 1.
What do you mean by Globalisation?
Answer:
Globalisation means the interaction and integrati on of the domestic economy with the rest of the world with regard to foreign investment, trade and production.

Question 2.
What are the forms of Globalisation?
Answer:
Forms of Globalization:
(a) Foreign trade policy
(b) Export promotion
(c) Freedom to repatriate
(d) Reduction in tariffs
(e) Encouraging open competition

III. Short Answer Questions

Question 1.
Explain the highlights of LPG policy.
Answer:
The salient highlights of the Liberalisation, Privatisation and Globalisation Policy in India:

1. Introduction of New Foreign Trade Agreements
2. Foreign Investment (FDI and FII)
3. MRTP Act, 1969 (Amended)
4. Deregulation
5. Opportunities for overseas trade
6. Tax reforms
7. Abolition of License

We as a team believe the information prevailing regarding the Tamilnadu State Board Solutions for 20th Commerce Chapter 20 Liberalization, Privatization and Globalization Questions and Answers has been helpful in clearing your doubts to the fullest. For any other help do leave us your suggestions and we will look into them. Stay in touch to get the latest updates on Tamilnadu State Board Solutions for different subjects in the blink of an eye.

Enhance your subject knowledge with Tamilnadu State Board Solutions for 19th Commerce Chapter 19 Environmental Factors Questions and Answers and learn all the underlying concepts easily. Make sure to learn the subject from Tamilnadu State Board Solutions Chapter 19 Environmental Factors Questions and Answers PDF on a day to day basis and score well in your exams. You can Download Samacheer Kalvi 19th Commerce Book Solutions Questions and Answers are given after enormous research by people having high subject knowledge and for better scoring grade. You can rely on them and prepare any topic of Commerce as per your convenience easily.

Tamilnadu Samacheer Kalvi 12th Commerce Solutions Chapter 19 Environmental Factors

Students those who are looking for Tamilnadu State Board Solutions Chapter 19 Environmental Factors Questions and Answers Concepts can find them all in one place from our site Tamilnadu State Board Solutions. Simply click on the links available to prepare the corresponding topics of Samacheer Kalvi 19th Commerce Book Solutions Questions and Answers easily. Clarify all your queries from chapter wise different questions to be familiar with the kind of questions appearing in the exam. Thus, you can increase your score and get higher grade in the final exam.

Samacheer Kalvi 12th Commerce Environmental Factors Textbook Exercise Questions and Answers

I. Fill in the blanks

1. VUCA stands for ________, ________, ________, ________.
2. GST stands for ________, ________, ________.
3. Factors within an organisation constitutes ________ environment.
4. Macro Environment of business is an ________ factor.
5. The two major types of business environment are ________ and ________.
6. ________ environment includes weather and climatic conditions.
7. The size and composition of the population is part of ________ environment.

Answer:

1. volatility, uncertainty, complexity, ambiguity
2. Goods and Service Tax
3. Internal
4. Economical
5. Internal, External
6. Geo-Physical
7. Socio-Cultural

II. Very Short Answer Questions

Question 1.
Define Business environment.
Answer:
According to Bayard O Wheeler, Business environment is “the total of all things external to firms and industries which affect their organisation and operations”.

Question 2.
What is internal environment?
Answer:
Internal environment refers to those factors within an organisation e.g. Policies and programmes, organisational structure, employees, financial and physical resources.

Question 3.
Give the meaning of corporate governance.
Answer:
Corporate governance is a set of rules and policies which governs a company. It provides a frame work for managing a company and achieving its objectives.

Question 4.
What is GST?
Answer:
GST is the indirect tax levied on goods and services across the country. It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.

Question 5.
Expand VUCA.
Answer:
VUCA-volatility, uncertainty, complexity and ambiguity.

Question 6.
What is mixed economy?
Answer:
Mixed economy is a combination of both state owned and private sector ownership.

III. Short Answer Questions

Question 1.
Explain the natural environment of business.
Answer:
Geo-physical environment – The natural, geographical and ecological factors have a bearing on the business. These are as follows:

1. The availability of natural resources like minerals oil .etc, since setting up of industries requires availability of raw materials.
2. The weather and climatic conditions and availability of water and other natural resources is essential for the agricultural sector.
3. Topographical factors like the terrain impacts type of business since the demand and consumption pattern may vary in these regions.
4. Location of certain industries is influenced by the geographical conditions.
5. Availability of natural harbors and port facilities for transporting goods

Question 2.
What are the political environment factors?
Answer:
Political and Legal environment – The framework for running a business is given by the political and legal environment.

1. Political stability is reflected by the following parameters like the election system, the law and order situation.
2. The image of the leader and the country in the international arena.
3. The constitution of the nation.

Question 3.
Write about any three internal environmental factors of business.
Answer:
The major internal factors affecting business decisions are:

1. Values system: The values of the founder/owner of the business, percolates down to the entire organisation and has a profound effect on the organisation.
2. Vision and objectives: The vision and objectives of a business guides its operations and strategic decisions.
3. Management structure: The structure of management / board and their style of functioning, the level of professionalism of management, the composition of the board are the various factors which affect the decision making.

Question 4.
State the framework of Corporate Governance in India.
Answer:
The Indian Corporate Governance framework requires listed companies:

1. to have independent directors on the board. At least one third of the directors have to be independent directors.
2. to have at least one independent woman director.
3. to disclose all deals and payments to related parties.
4. to disclose details of managerial compensation.

Question 5.
What are the functions of the GST council?
Answer:
The functions of GST Council:

1. The GST council can recommend to the Central and State Government oh issues relating to GST.
2. The Goods and Services that may be subjected to or exempted from the Goods and Services Tax.
3. Model GST laws, principles of levy are framed by the GST council.
4. The rates including floor rates with bands of Goods and Services Tax.

Question 6.
Write a note on future environment of business.
Answer:
The future environment of business in this age of rapid technological advancement has been captured aptly. It is now important for every business to meet the challenges posed by the environment in order to remain competitive.The presence of complex variables impacting business should be understood apd alternative measures for solving the issues should be developed.

Question 7.
What do you know about Technological environment?
Answer:
The development in the IT and telecommunications has created a global market. Technology is widely used in conducting market research for understanding the special needs of the customer. This dynamic environment also includes the following:

1. the level of technology available within the country
2. rate of change in technology
3. technology adopted by competitors
4. technological obsolescence

IV. Long Answer Questions

Question 1.
Discuss the role of macro environment of business.
Answer:
This is the general or overall environment in which the business operates. The success of a business is dependent on its ability to adapt to the macro environment.
Role of Macro-environment:

1. The business is an integral part of the economic system prevalent in a nation.
2. Business is a part of the society. Social environment refers to the sum total of factors of the society in which the business is located.
3. The success of a business lies in its ability to adapt and sustain to political and legal changes. The legislative, executive and judiciary are the three political institutions which directs, and influences a business.
4. The natural, geographical and ecological factors have a bearing on the business.

Question 2.
Describe the economic and social-cultural environment of business.
Answer:
Economic Environment: The multiple variables in the macro environment system which has a bearing on a business include:

1. The nature of economy is based on the stage of development. The countries across the globe can be categorized on the basis of growth and per capital income as developed nations, developing nations and under developed nations.
2. The economic systems can be classified as Capitalistic, Socialistic and Mixed economy.
3. The economic policies of a nation are: Monetary policy, Fiscal policy, Industrial policy, Foreign exchange policy and Export-import policy. Social -Cultural environment: Social environment refers to the sum total of factors of the society in which the business is located. It is dynamic and includes the behaviour of individuals, the role and importance of family, customs, religion and languages, the ethical values.

Question 3.
Explain the micro environmental factors of business.
Answer:
Micro environmental factors are those, which are in the immediate environment of a business affecting its performance. These include the following:

1. Suppliers: In any organisation the suppliers of raw materials and other inputs play a vital role. Timely procurement of materials from suppliers enables continuity in production and reduces the cost of production.
2. Customers: The aim of any business is to satisfy the needs of its customers. The customer is the king of the business.
3. Competitors: All organisations face competition at all levels local, national and global. Competitors may be for the same product or for similar products.
4. Financiers: The financiers of a business includes the debenture holders and financial
   institutions.
5. Marketing Channel members: The marketing inter-mediaries serve as a connecting link between the business and its customers. The middlemen like dealers, wholesalers and retailers ensure transfer of product to customers.

Question 4.
Discuss the significance of understanding business environment and the internal factors affecting business.
Answer:
A business in order to remain successful and competitive has to adapt to the constantly changing environment. The significance of understanding the business environment is as follows:

1. Helps in formulating strategy and future planning.
2. The analysis of business environment helps a business to identify new opportunities.
3. Environment scanning helps the firms to identify threats which affect the business.

Internal factors of environment:

1. Value system: The success of an organisation depends upon the sharing of value systems by all members.
2. Vision and objectives: The vision and objectives of a business guides its operations and strategic decisions.
3. Management structure: The structure of management/board and their style of functioning, the composition of the board.
4. Internal power relations: This refers to the internal power relations that exist in an organisation. The relations among board members, and the CEO and employees, shareholders are the factors affecting in taking decisions.

Samacheer Kalvi 12th Commerce Environmental Factors Additional Questions and Answers

I. Fill in the blanks

1. Internal factors can be changed or altered and are known as______ factors.
2. ______ lays down the rules and responsibilities of stakeholders of a company.

Answers:

1. controllable
2. corporate governance

II. Very Short Answer Questions

Question 1.
What is Social – Cultural environment?
Answer:
Business is a part of the society. Social environment refers to the sum total of factors of the society in which the business is located. It affects the business.

III. Short Answer Questions

Question 1.
What are the micro environment factors?
Answer:
Micro environment factors refers to those factors which are in the immediate environment of a business affecting its performance.
It includes:

• Suppliers
• Customers
• Competitors
• Financiers
• Marketing Channel members
• Public

We as a team believe the information prevailing regarding the Tamilnadu State Board Solutions for 19th Commerce Chapter 19 Environmental Factors Questions and Answers has been helpful in clearing your doubts to the fullest. For any other help do leave us your suggestions and we will look into them. Stay in touch to get the latest updates on Tamilnadu State Board Solutions for different subjects in the blink of an eye.

Enhance your subject knowledge with Tamilnadu State Board Solutions for 18th Commerce Chapter 18 Grievance Redressal Mechanism Questions and Answers and learn all the underlying concepts easily. Make sure to learn the subject from Tamilnadu State Board Solutions Chapter 18 Grievance Redressal Mechanism Questions and Answers PDF on a day to day basis and score well in your exams. You can Download Samacheer Kalvi 18th Commerce Book Solutions Questions and Answers are given after enormous research by people having high subject knowledge and for better scoring grade. You can rely on them and prepare any topic of Commerce as per your convenience easily.

Tamilnadu Samacheer Kalvi 12th Commerce Solutions Chapter 18 Grievance Redressal Mechanism

Students those who are looking for Tamilnadu State Board Solutions Chapter 18 Grievance Redressal Mechanism Questions and Answers Concepts can find them all in one place from our site Tamilnadu State Board Solutions. Simply click on the links available to prepare the corresponding topics of Samacheer Kalvi 18th Commerce Book Solutions Questions and Answers easily. Clarify all your queries from chapter wise different questions to be familiar with the kind of questions appearing in the exam. Thus, you can increase your score and get higher grade in the final exam.

Samacheer Kalvi 12th Commerce Grievance Redressal Mechanism Textbook Exercise Questions and Answers

I. Choose the Correct Answer

Question 1.
The Chairman of the National Consumer Disputes Redressal Council is ________
(a) Serving or Retired Judge of the Supreme Court of India
(b) Prime Minister
(c) President of India
(d) None of the above
Answer:
(a) Serving or Retired Judge of the Supreme Court of India

Question 2.
The Chairman of the State Consumer Protection Council is ________
(a) Judge of a High Court
(b) Chief Minister
(c) Finance Minister
(d) None of the above
Answer:
(a) Judge of a High Court

Question 3.
The Chairman of the District Forum is ________
(a) District Judge
(b) High Court Judge
(c) Supreme Court Judge
(d) None of the above
Answer:
(a) District Judge

Question 4.
The State Commission can entertain complaints where the value of the goods or services and the compensation, if any claimed exceed ________
(a) ₹ 2 lakhs but does not exceed ₹ 5 lakhs
(b) ₹ 20 lakhs but does not exceed ₹ 1 crore
(c) ₹ 3 lakhs but does not exceed ₹ 5 lakhs
(d) ₹ 4 lakhs but does not exceed ₹ 20 lakhs
Answer:
(b) ₹ 20 lakhs but does not exceed ₹ 1 crore

Question 5.
The National Consumer Disputes Redressal Commission has jurisdiction to entertain complaints where the value of goods/services complained against and the compensation, if any claimed is ________
(a) Exceeding ₹ 1 crore
(b) Exceeding ₹ 10 lakhs
(c) Exceeding ₹ 5 lakhs
(d) Exceeding ₹ 12 lakhs
Answer:
(a) Exceeding ₹ 1 crore

Question 6.
The District Forum can entertain complaints where the value of goods or services and the compensation if any claimed is less than ________
(a) Below ₹ 10,00,000
(b) Below ₹ 20,00,000
(c) Below ₹ 40,00,000
(d) Below ₹ 50,00,000
Answer:
(b) Below ₹ 20,00,000

Question 7.
The International Organisation of Consumers Unions (IOCU) was first established in ________
(a) 1960
(b) 1965
(c) 1967
(d) 1987
Answer:
(a) 1960

Question 8.
Consumer awareness covers the following:
(а) Consumer awareness about Maximum Retail Price (MRP)
(b) Consumer awareness about Fair Price Shop
(c) Consumer awareness about price, quality, and expiry date of the product
(d) All of the above
Answer:
(d) All of the above

Question 9.
Complaints can also be filed by the ________
(a) Central Government
(b) State Government
(c) A group of consumers
(d) All of the above
Answer:
(d) All of the above

Question 10.
A consumer has to be protected against ________
(a) Defects of product
(b) Deficiencies of product
(c) Unfair and restrictive trade practices
(d) All of the above
Answer:
(d) All of the above

II. Very Short Answer Questions

Question 1.
What do you meant by Redressal Mechanism?
Answer:
Exploitation is common where consumers are unaware of their rights and privileges. Government has also taken necessary steps to save the Consumers. It is in this context grievance redressal mechanism becomes important.

Question 2.
What do you know about National Commission?
Answer:
The National Consumer Disputes Redressal Commission (NCDRC), India is a quasi-judicial commission in India which was set up in 1988 under the Consumer Protection Act of 1986. The National Consumer Disputes Redressal Commission (NCDRC) is also called as National Commission.

Question 3.
State the meaning of the term State Commission.
Answer:
The State Commission is to be appointed by the State Government in consultation with the Centre. The State Consumer Protection Council is also called State Commission.

Question 4.
What is an term District Forum?
Answer:
As per the Consumer Protection Act of 1986 and Section 9 thereof the establishment of a District Forum by the State Government in each district is necessary today to protect the interest of aggrieved consumers in that district. Complaints can be filed with the forum by a consumer.

Question 5.
How to register the complaints?
Answer:
A complaint can be filed by a complainant against the seller, manufacturer, or dealer of goods which are defective or against the provider of services.

III. Short Answer Questions

Question 1.
Is Consumer Protection necessary?
Answer:
Consumer is supposed to be the king in the business. Consumer satisfaction is compulsorily necessary. Because the business depends upon the consumer. If there is no consumer, no need of production or sales. So the consumer is to be fully satisfied and respected in the market.

Question 2.
Who are the members of the National Commission?
Answer:
Members: The National Consumer Disputes Redressal Commission has been constituted by a Notification.

1. The National Commission should have five members.
2. One should be from judiciary.
3. Four other members of ability, knowledge and experience from any other fields.
4. It should include a woman.

Question 3.
What is the Pecuniary Jurisdiction of the State Commission?
Answer:
The Jurisdiction of the State Commission is as follows:

1. The State Commission can entertain complaints within the territory of entire state and the compensation, if any claimed exceed Rs. 20 lakhs and below Rupees One Crore.
2. The State Commission also has the jurisdiction to entertain appeals against the orders of any District Forum within the State.

Question 4.
Does District Forum exceeds the claim limit of Rs 20 Fakhs? Explain the condition.
Answer:
If the value of the complaint exceeds this limit of Rs 20 Lakhs the complaint should be made direct to the State Commission. Further the District Forum also may pass orders against traders indulging in unfair trade practices, sales of defective goods or rendering deficient services, where the turnover of goods or value of services does not exceed Rs 20 Lakhs.

Question 5.
Write a note on the Voluntary Consumer Organisation.
Answer:
Voluntary consumer organisations refer to the organisation formed voluntarily by the consumers to protect their rights and interests.

IV. Long Answer Questions

Question 1.
What are the Functions of the National Commission?
Answer:
The National Consumer Disputes Redressal Commission is also called as National commision. Its head office is New Delhi.
Functions:

1. Compensation can be given foe the complaints to the value more than Rupees one crore.
2. The orders passed in the state commission can be appealed.
3. To call for the records and pass appropriate orders from the state commission and district
   forum.

Question 2.
Explain the overall performance of State Commission.
Answer:
The State Commission is to be appointed by the State Government. The person who is a judge or retired judge of high court is the president of the state commission.
Performances:

1. The compensation of the value should not exceed Rs.20 lakhs and below Rs. 1 crore.
2. The state commission has the power to call for the records and pass orders in the district forum
3. To furnish the information which is required for the purpose of the Act to any officer.

Question 3.
Explain the term District Forum and explain the functions of District Forum.
Answer:
As per the Consumer Protection Act 1986, a district forum is established in each and every district to solve the problems in the concerned district.
Present or Retired district judge is the president of District forum.
Functions:

1. The complaints relating to the district can be solved by district forum.
2. Compensation that can be claimed is less than Rs. 20 lakhs.
3. Sometimes the district forum also may pass orders against traders.

Question 4.
What is Voluntary Consumer Organisations? Explain its Functions.
Answer:
Voluntary consumer organisations refer to the organisation formed voluntarily by the consumers to protect their rights and interests.
Functions:

1. Collecting Data on Different Products: These organizations collect samples of different products from time to time and test them.
2. Filing Suit on Behalf of Consumers: If a consumer is not able to protest regarding his complaints, these organisations file case in the court, on behalf of a consumer.
3. Protests against Adulteration: The consumer organisations play a significant role in eliminating the evil of adulteration, hoarding, black-marketing.
4. Helping Educational Institutions: These organizations advice the educational institutions the way to prepare courses of study.
5. Extending Support to Government: Consumer organisations keep informing the government agencies about adulteration, artificial scarcity, inferior quality products.

Question 5.
How to create consumer awareness?
Answer:
The first priority of a consumer organisation is to increase consumer awareness towards their rights.
The following are the points for awareness:

1. To publish brochures, journals and monographs.
2. To arrange conferences, seminars and workshops.
3. To educate consumers to help themselves.
4. To provide special education to women about consumerism.

Samacheer Kalvi 12th Commerce Grievance Redressal Mechanism Additional Questions and Answers

I. Choose the Correct Answer

Question 1.
The State consumer protection council is also called as
(a) State Commission
(b) National commission
(c) District commission
(d) City commission
Answer:
(a) State Commission

Question 2.
The National commission should have members.
(a) 3
(b) 4
(c) 5
(d) 6
Answer:
(c) 5

II. Very Short Answer Questions

Question 1.
What did Mahatma Gandhi tell about the Customer?
Answer:
“A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption of our work. He is the purpose of it. He is not an outsider of our business.”

III. Short Answer Questions

Question 1.
Who can make complaint?
Answer:
There are certain persons eligible to make complaint.
They are as follows:

1. A consumer as defined under Consumer Protection Act, 1986.
2. A registered Voluntary Consumer Association.
3. Central Government.
4. State Govemment / Union Territory.
5. Consumers having the common problem.

We as a team believe the information prevailing regarding the Tamilnadu State Board Solutions for 18th Commerce Chapter 18 Grievance Redressal Mechanism Questions and Answers has been helpful in clearing your doubts to the fullest. For any other help do leave us your suggestions and we will look into them. Stay in touch to get the latest updates on Tamilnadu State Board Solutions for different subjects in the blink of an eye.

Enhance your subject knowledge with Tamilnadu State Board Solutions for 17th Commerce Chapter 17 Consumer Protection Questions and Answers and learn all the underlying concepts easily. Make sure to learn the subject from Tamilnadu State Board Solutions Chapter 17 Consumer Protection Questions and Answers PDF on a day to day basis and score well in your exams. You can Download Samacheer Kalvi 17th Commerce Book Solutions Questions and Answers are given after enormous research by people having high subject knowledge and for better scoring grade. You can rely on them and prepare any topic of Commerce as per your convenience easily.

Tamilnadu Samacheer Kalvi 12th Commerce Solutions Chapter 17 Consumer Protection

Students those who are looking for Tamilnadu State Board Solutions Chapter 17 Consumer Protection Questions and Answers Concepts can find them all in one place from our site Tamilnadu State Board Solutions. Simply click on the links available to prepare the corresponding topics of Samacheer Kalvi 17th Commerce Book Solutions Questions and Answers easily. Clarify all your queries from chapter wise different questions to be familiar with the kind of questions appearing in the exam. Thus, you can increase your score and get higher grade in the final exam.

Samacheer Kalvi 12th Commerce Consumer Protection Textbook Exercise Questions and Answers

I. Choose the Correct Answer

Question 1.
The final aim of modem marketing is _________
(a) Maximum profit
(b) Minimum profit
(c) Consumer satisfaction
(d) Service to the society
Answer:
(c) Consumer satisfaction

Question 2
_________  is the king of modem marketing.
(a) Consumer
(b) Wholesaler
(c) Producer
(d) Retailer
Answer:
(a) Consumer

Question 3.
As the consumer is having the rights, they are also having _________
(a) Measures
(b) Promotion
(c) Responsibilities
(d) Duties
Answer:
(c) Responsibilities

Question 4.
Which of the following is not a consumer right summed up by John F. Kennedy?
(a) Right to safety
(b) Right to choose
(c) Right to consume
(d) Right to be informed
Answer:
(a) Right to safety

Question 5.
It is the responsibility of a consumer that he must obtain _________  as a proof for the purchase of goods.
(a) Cash receipt
(b) Warranty card
(c) Invoice
(d) All of these
Answer:
(c) Invoice

II. Very Short Answer Questions

Question 1.
Write short notes on “Right to be informed.”
Answer:
Consumers should be given all the relevant facts about the product. This implies that manufacturer and the dealer are expected to disclose all the material facts relevant and relating to the product.

Question 2.
What do you understand about “Right to Safety”?
Answer:
There may be few products that are more likely to cause physical danger to consumers health, lives and property. The health hazards which are likely to arise have to be eradicated or reduced altogether. In case of food items and drugs both life saving and life sustaining safety is to be guaranteed.

Question 3.
What are the rights of consumer according to John F. Kennedy?
Answer:
The former president of U.S.A Mr. John F. Kennedy defined the basic consumer rights as “The Right of Safety“ the Right to be informed, the Right to choose and the Right to be heard.”

Question 4.
Which is the supreme objective of business?
Answer:
The modem marketing concept recognises that the consumer is the pivotal point around which the business moves. Satisfaction of consumer needs / requirements is stated to be supreme objective of a business.

Question 5.
What are the important aspects to be kept in mind by consumer while purchasing goods related to the quality of goods?
Answer:
The consumer has to have the knowledge about the quality from his own experiences or from the experiences of other persons who used the product or by browsing the website.

III. Short Answer Questions

Question 1.
What do you understand by “Right to redressal”?
Answer:
The complaints and protests are not just to be heard: but the aggrieved party is to be granted compensation within a reasonable time period . There should be prompt settlement of complaints and claims lodged by the aggrieved customers.

Question 2.
Define “Consumer Rights”.
Answer:
Consumer Right is interpreted as “the right to have information about the quality, potency, quantity, purity, price, and standard of goods or services”.

Question 3.
What do you understand about “Right to protection of health and safety”?
Answer:
A few products may contain potentially harmful substances which are dangerous from the consumer welfare point of view. The best examples of this kind are food additives, colours, emulsifiers, preservatives. In case of food items and drugs both life saving and life sustaining safety is to be guaranteed.

IV. Long Answer Questions

Question 1.
What are the rights of consumers?
Answer:
As a consumer, everyone should know the basic rights as well as about the counts and procedures to be followed.
The rights of consumers as per Consumer Protection Act are given below:

1. Right to Protection of Health and Right of Safety: There may be products that cause physical danger to consumers health, lives and property. The health hazards which are likely to arise have to be eradicated or reduced altogether.
2. Right to be Informed: Consumers should be given all the relevant facts about the products. The manufacturer and the dealer should disclose all the material facts relating to the product.
3. Right to choose: Consumer satisfaction can be increased by giving the consumer the widest choice. From the widest range of products in quality and brand as well as price, the consumer can choose the goods.
4. Right to be Heard: Consumers have every right to ventilate and register the dissatisfaction, disagreements and get the complaint heard and aired.
5. Right to Seek Redressal: The aggrieved party is to be granted compensation within a reasonable time.
6. Right to Consumer Education: The consumer has a right to acquire knowledge and stay well-informed all through his life.

Question 2.
Explain the duties of consumers.
Answer:
Apart from rights, there are certain duties imposed on the consumer. The following are the duties of consumers

1. Buying Quality Products at Reasonable Price: It is the duty of a consumer to purchase a product after gaining a thorough knowledge of its price, quality and other terms and conditions.
2. Ensure the Weights and Measurement before Purchase: The consumer should ensure that he/she is getting the product of exact weight and measure.
3. Reading the Label Carefully: It is the duty of the consumer to read the label of the product thoroughly.
4. Beware of False and Attractive Advertisements: It is the prime duty of the consumer about the genuineness of the advertisement, before purchasing the product.
5. Ensuring the Receipt of Cash Bill: It is a legitimate duty of consumers to get the cash receipt and warranty card supplied along with the bill.

Question 3.
What are the responsibilities of consumers?
Answer:
Rights and responsibilities are two sides of the same coin.
The responsibilities of consumers are listed below:

1. The consumer must pay the price of the goods according to the terms and conditions.
2. The consumer has the responsibility to make the seller to deliver the goods in time.
3. The consumer has to bear any loss, which may arise to the seller, due to delay in taking delivery.
4. The consumer has to follow the instructions and precautions while using the product.
5. The consumer must collect the cash receipt as a proof of goods purchased from the seller.
6. The consumer must file a complaint with the seller about the defects in products or deficiency in service.

Samacheer Kalvi 12th Commerce Consumer Protection Additional Questions and Answers

I. Choose the Correct Answer

Question 1.
The consumer is to be protected against any __________
(a) unfair practices of trade
(b) family functions
(c) profit making firm
(d) loss in business
Answer:
(a) unfair practices of trade

Question 2.
The consumer is the __________ of the modem marketing.
(a) Manager
(b) Director
(c) King
(d) None of these
Answer:
(c) King

II. Very Short Answer Questions

Question 1.
Write a note on Right to consumer education.
Answer:
The consumer has a right to acquire knowledge and stay well-informed all through his life. He should be aware of the availability of the products.

Question 2.
How the consumer got the basic needs, as per right of the consumer?
Answer:
Every consumer has a right to get basic necessities of life such as food, clothing and water, and right to pine and healthy environment. It is the latest addition to consumer bill of rights.

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Enhance your subject knowledge with Tamilnadu State Board Solutions for 16th Commerce Chapter 16 Consumerism Questions and Answers and learn all the underlying concepts easily. Make sure to learn the subject from Tamilnadu State Board Solutions Chapter 16 Consumerism Questions and Answers PDF on a day to day basis and score well in your exams. You can Download Samacheer Kalvi 16th Commerce Book Solutions Questions and Answers are given after enormous research by people having high subject knowledge and for better scoring grade. You can rely on them and prepare any topic of Commerce as per your convenience easily.

Tamilnadu Samacheer Kalvi 12th Commerce Solutions Chapter 16 Consumerism

Students those who are looking for Tamilnadu State Board Solutions Chapter 16 Consumerism Questions and Answers Concepts can find them all in one place from our site Tamilnadu State Board Solutions. Simply click on the links available to prepare the corresponding topics of Samacheer Kalvi 16th Commerce Book Solutions Questions and Answers easily. Clarify all your queries from chapter wise different questions to be familiar with the kind of questions appearing in the exam. Thus, you can increase your score and get higher grade in the final exam.

Samacheer Kalvi 12th Commerce Consumerism Textbook Exercise Questions and Answers

I. Choose the Correct Answer

Question 1.
The term ‘consumerism’ came into existence in the year ________
(a) 1960
(b) 1957
(c) 1954
(d) 1958
Answer:
(a) 1960

Question 2.
Who is the father of Consumer Movement?
(a) Mahatma Gandhi
(b) Mr. John F. Kennedy
(c) Ralph Nader
(d) Jawaharlal Nehru
Answer:
(c) Ralph Nader

Question 3.
Sale of Goods Act was passed in the year?
(a) 1962
(b) 1972
(c) 1982
(d) 1985
Answer:
(c) 1982

Question 4.
The main objective of all business enterprises is ________
(a) Providing service
(b) Providing better standard of life
(c) Providing necessities to the society
(d) Earn profit
Answer:
(d) Earn profit

Question 5.
The Consumer Protection Act came into force with effect from ________
(a) 1.1.1986
(6) 1.4.1986
(c) 15.4.1987
(d) 15.4.1990
Answer:
(c) 15.4.1987

Question 6.
________ of every year is declared as a Consumer Protection Day to educate the public about their rights and responsibilities.
(a) August 15
(b) April 15
(c) March 15
(d) September 15
Answer:
(c) March 15

Question 7.
Any person who buys any goods or avails services for personal use, for a consideration is called as ________
(a) Customer
(b) Consumer
(c) Buyer
(d) User
Answer:
(b) Consumer

Question 8.
The General Assembly of United Nations passed resolution of consumer protection guide lines on ________
(a) 1985
(b) 1958
(c) 1986
(d) 1988
Answer:
(a) 1985

II. Very Short Answer Questions

Question 1.
Who is a consumer?
Answer:
A consumer is one who consumes goods manufactured and sold by others or created (air, water, natural resources) by nature and sold by others.

Question 2.
Define Consumerism.
Answer:
“Consumerism is an attempt to enhance the rights and powers by buyers in relation to sellers”

Question 3.
Give two examples of adulteration.
Answer:

1. Powdered rice / wheat is adulterated with starch.
2. Coffee powder is adulterated with tamarind seed.

Question 4.
What is Caveat Emptor?
Answer:
‘Caveat emptor’ is a Latin term that means “let the buyer beware.” Similar to the phrase”sold as is” this term means that the buyer assumes the risk that a product fails to meet expectations or have defects.

Question 5.
What is Caveat Venditor?
Answer:
Today, most sales in the U.S. fall under the principle of caveat venditor, which means “let the seller beware” by which goods are covered by an implied warranty of merchantability.

Question 6.
Write a short notes on Consumer Protection Act, 1986.
Answer:
The Central Government enacted a comprehensive law called the Consumer Protection Act in 1986. This Act came into force with effect from 15.04.1987. This Act was further amended in 1993. The Act is referred in short as ‘COPRA’.

III. Short Answer Questions

Question 1.
Which are the three constituent elements of business?
Answer:
The producer, the consumer and the government are the three constituent elements of business. The consumer is the most exploited constituent in the business world.

Question 2.
What are the important legislations related to consumerism in India?
Answer:
Consumer Legislation:

1. The Indian Contract Act, 1982
2. The Sale of Goods Act, 1982
3. The Essential Commodities Act, 1955
4. The Agricultural Products Grading and Marketing Act, 1937
5. The Prevention of Food Adulteration Act, 1954
6. Weights and Measures Act, 1958
7. The Trademark Act, 1999

Question 3.
What is meant by artificial scarcity?
Answer:
There are certain situations where the shop-keepers put up the board “No Stock” in front of their shops, even though there is plenty of stock in the store. In such situations consumers who are desperate to buy such goods have to pay hefty price to buy those goods and thus earning more profit unconscientiously.

Question 4.
Write the importance of consumerism.
Answer:
Importance of consumerism lies in:

1. Awakening and uniting consumers
2. Discouraging unfair trade practices
3. Protecting against exploitation
4. Awakening the government
5. Effective implementation of consumer protection laws
6. Providing complete and latest information
7. Discouraging anti-social activities

Question 5.
What is the role of Government in consumer protection?
Answer:
Since most of consumers including academically educated are illiterate about their rights and hence passive. Government should assure an active role in safeguarding the consumers. Government both the central and the state have brought out a number of legislations to protect the interest of consumers across the country. Law enforcement authorities should see that penal clause is not mere paper jaws-they should sting the offenders mercilessly.

IV. Long Answer Questions

Question 1.
How consumers are exploited?
Consumer is one who consumes the goods manufactured or created. Consumers are exploited in many’ways in the business.
They are as follows:

1. Selling at Higher Price: The price charged by the seller for a product or service may not be higher compared to the quality.
2. Adulteration: It refers to mixing or substituting undesirable material in food. This leads to heavy loss to the consumer, (e.g.) Mixing of stones with grains.
3. Duplicate or Spurious goods: Duplicate products of popular products are illegally produced and sold
4. Artificial Scarcity: There are certain situations where the shop-keepers put up the board “No Stock” in front of their shops, even though there is plenty of stock in the store.
5. Sub-standard: On opening a packet or sealed container one may find the content to be of poor quality.

Question 2.
Explain the role of business in consumer protection.
Answer:
Business enterprises should do the following towards protecting consumers.

1. Avoidance of Price Hike: Business enterprises should desist from hiking the price in the context of acute shortage of goods.
2. Avoidance of Hoarding: Business enterprises should not indulge in hoarding and black marketing to earn maximum profit.
3. Guarantees for Good Quality: Business enterprises should not give false warranty for the products.
4. Product Information: Business enterprises should disclose correct, complete and accurate information about the product viz. size, quality, quantity, weight etc.
5. The in advertising: Business enterprises should not convey false, untrue, bogus information relating to the product through the advertisement.
6. Money Refund Guarantee: Where the product becomes defective, business enterprises should replace it with new one or refund the purchase price.

Question 3.
What are the needs for consumer protection?
Answer:
Consumer is to be protected from the cheating business people. Though the consumer is said to be the king, his interests are neglected. Consumer protection is applicable to public sector, financial and co-operative enterprises. Recently even medical services have been brought under consumer-movement. Satisfaction and well being of the consumer should be the main objective of business. But in real practice consumer is not protected and safeguarded. Thus there is a need for consumer protection or movement.

Question 4.
Explain the role of consumers in Consumer Protection.
Answer:
Consumers have to be vigilant and organize themselves into a movement for concerned action.
Activation of Consumer Action Councils:

1. Consumer action councils established at village levels should educate consumers.
2. Consumer protection agencies should take necessary steps to investigate consumer complaints and grievances.
3. Voluntary consumer groups should provide information so as to educate consumers.
4. Consumer cooperatives need to be strengthened.
5. Consumer groups should contact the legislators to raise the consumer issue in Assembly and Parliament.
6. There should be testing laboratories at each district to test the purity of goods.

Question 5.
What are the objectives of Consumer Protection Act, 1986?
Answer:
The Central Government enacted a comprehensive law called the Consumer Protection Act in 1986. This Act came into force with effect from 15.04.1987. It is in short, called as ‘COPRA’.
Objectives:

1. Consumer protection Act protects the interests of the consumers.
2. This Act provides safeguards against defective goods and deficient services, untrade practices.
3. It also gives settlement of consumer disputes.
4. It is applicable to public sector, financial and co-operative enterprises.

Question 6.
Write about five important consumer legislations.
Answer:
To protect the consumers from the unfair traders, the government passed various legislative Acts.
They are follows:

1. The Indian Contract Act, 1982 was passed to bind the people on the promise made in the contract.
2. The Essential Commodities Act, 1955 protects the consumers against artificial shortages created by the sellers by hoarding the goods.
3. The Prevention of Food Adulteration Act, 1954 checks the adulteration of food articles and ensures purity of goods supplied.
4. Weights and Measures Act, 1958 protects the consumer against malpractices of underweight or under measurement.

Question 7.
What are the salient features of the Consumer Protection Act, 1986?
Answer:
Salient Features of The Indian Consumer Protection Act, 1986:

1. Protecting consumers against products and services which are harmful to the health of the consumers.
2. Ensuring consumers, with supply of goods at fair quality.
3. Ensuring the availability of goods in correct quantity and right size.
4. Protecting the consumers against pollution of various kinds.
5. Ensuring that consumers are charged fair price.
6. Protecting the consumers against unfair trade practices of unscrupulous trader.

Question 8.
What are the objectives of United Nations guidelines for consumer protection?
Answer:
The General Assembly of the United Nations passed a Resolution on April 9,1985 adopting a set of guidelines for consumer protection to persuade the member countries.

Objectives of United Nations Guidelines for Consumer Protection:

1. To assist countries in achieving or maintaining protection to consumers.
2. To facilitate production and distribution patterns responsive to the needs and desires of consumers.
3. To encourage high levels of ethical conduct for production and distribution of goods and services to consumers.
4. To facilitate the developing of independent consumer groups.
5. To encourage the development of market conditions which provide consumers with greater choice at lower prices.

Samacheer Kalvi 12th Commerce Consumerism Additional Questions and Answers

I. Choosy the Correct Answer

Question 1.
Match List I with List II and select the correct answer using the codes given below:

Codes:

Answer:
(c) (i) 3, (ii) 1, (iii) 4, (iv) 2.

Question 2.
The term ‘Caveat emptor’ is a Latin term, which means _________
(a) Let the seller beware.
(b) Let the buyer beware
(c) Consumer
(d) Marketer
Answer:
(b) Let the buyer beware

II. Very Short Answer Questions

Question 1.
What is meant by sub-standard according to the Consumer Protection Act?
Answer:
On opening a packet or sealed container one may find the content to be of poor quality. If defective or damaged items are found in a pack, a consumer finds it difficult to exchange the defective one for good one.

Question 2.
What is meant by consumer protection?
Answer:
Consumer protection is a form of social action which is designed to attain the wellbeing of the society namely consumers. A consumer is said to be a king in a free market economy.

III. Short Answer Questions

Question 1.
Write a short note on False Advertisements.
Answer:
The main motive of advertisements is to educate the consumers regarding various aspects of the products and services. Sometimes it makes false representation about the quality, price, grade, composition and utility of products. Often the products are not as attractive as shown in the advertisement by the sellers. Consumers who buy the products on the faith of claims made in advertisements are cheated.

Case Study

Mr. Narasimachary bought a refrigerator of a familiar brand with a warranty for seven years. He uses the fridge as per the guidelines given by the manufacturer. After the completion of two years the fridge went out of order. He was shocked, and approached the dealer. But the dealer refused to service the fridge at free of cost.

Question 1.
What is your suggestion to Mr. Narasimachary to this grievance?
Answer:
Each and every consumer should know the rights and duties of consumers, according to the consumer protection Act – 1986. In this case, the manufacturer refused to repair and service the fridge, though there is a warranty period. So my suggestion is that the consumer Mr. Narasimachary can contact the manufacturer again to repair the fridge. If he refuses, Mr. Narasimachary can file a case in the consumer court according to the Act 1986. For proceeding to the case, the consumer has to make ready the cash bill, invoice and warranty card of the fridge.

We as a team believe the information prevailing regarding the Tamilnadu State Board Solutions for 16th Commerce Chapter 16 Consumerism Questions and Answers has been helpful in clearing your doubts to the fullest. For any other help do leave us your suggestions and we will look into them. Stay in touch to get the latest updates on Tamilnadu State Board Solutions for different subjects in the blink of an eye.