Economics- Consumer Rights Long Answer Type Questions Q.1) What factors gave birth to the consumer movement in India? Trace its evolution. Ans) Consumer Movement in India– The consumer movement started due to consumer dissatisfaction. There were many reasons for consumer dissatisfaction, such as, shortage of food items, hoarding, black marketing, adulteration etc. To deal with […]
Economics- Consumer Rights Short Answer Type Questions Q.1) Explain the need for consumer consciousness by giving two examples. Or State four importance of consumer awareness. Ans) The need for making the consumer aware is clear from the following: Q.2) What is the rationale behind the enactment of Consumer Protection Act 1986? Ans) Consumer Protection Act:
Economics- Consumer Rights Very Short Answer Type Questions Q.1) What is the result of getting limited information about the product? Ans) In this era of globalisation, the market is full of variety of products. The producer is free to produce. There are no fixed rules for quality and pricing. There is a lack of proper
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Economics- Globalisation and Indian Economy Long Answer Type Questions Q.1) What was the reasons for putting barriers to foreign trade and foreign investment by the Indian Government? Why did it wish to remove these barriers? Ans) Governments can use trade barriers to increase or decrease (regulate) foreign trade and to decide what kinds of goods
Economics- Globalisation and Indian Economy Short Answer Type Questions Q.1) What do you understand by globalisation? Explain in your own words. or What is Globalization? Ans) Globalisation literally means integrating the economy with the world economy. In this, each nation has an unrestricted exchange of goods, services, capital and intellectual property with nations. It is
Economics- Globalisation and Indian Economy Very Short Answer Type Questions Q.1) What was the policy of foreign trade of India before 1991? Ans) The imports were kept under control till the year 1991. During this period only essential goods such as machinery, fertilizers and petroleum were mainly imported. The country adopted a policy of conservation
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Economics- Money and Credit Long Answer Type Questions Q.1) How do banks mediate between those who have surplus money and thoes who need money? Ans) . Banks mediate between people with extra currency and those in need in following ways:- In this way, banks mediate between those who have surplus funds (the depositors) and those
Economics- Money and Credit Short Answer Type Questions Q.1) How does money solve the problem of double coincidence of wants? Explain with an example of your own. Ans) If a person has money, he can exchange it wisely to buy any goods or services. For example, a shoe manufacturer wants to buy wheat by selling
Economics- Money and Credit Very Short Answer Type Questions Q.1) What is barter? Ans) Getting or exchanging one thing for another is called barter. Q.2) What is money? Ans) A commodity that is used to buy goods and services and accepted to pay off debts is called currency. Q.3) What is the main difference between
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