Free PDF Download of CBSE Business Studies Multiple Choice Questions for Class 12 with Answers Chapter 10 Financial Market. Business Studies MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 12 Business Studies Financial Market MCQs Pdf with Answers to know their preparation level.
Financial Market Class 12 Business Studies MCQs Pdf
1. Yash had severe pain in his throat, so he called up the doctor and asked for a telephonic advice. The doctor prescribed him a sachet of Throat Reliever Hot Sip. He asked his servant to get a sachet from a local chemist with a cash memo. After consuming the sachet, he started feeling more ill, so he picked up the empty sachet and started reading the label. To his utter dismay, the sachet had already expired last month. Which of the following remedies is not available to him any longer as a consumer?
(a) To withdraw the hazardous goods from sale.
(b) To replace the defective product with a new one.
(c) To refund the price paid for the product.
(d) To pay a reasonable amount of compensation for any loss suffered by the consumer due to the negligence of the opposite party.
Answer/Explanation
Answer: b
Explanation:
(b) Because he has already consumed the product
2. Due to the negligence of the doctors, Johar passed away within a week’s time after his surgery of the spine. Which of the following parties can not file a case in this regard?
(a) The consumer
(b) Any registered consumers’ association
(c) A legal heir or representative of a deceased consumer
(d) All of the above
Answer/Explanation
Answer: a
Explanation:
(a) Because he is dead
3. Which of the following activities lie within the scope of consumer protection?
(a) Educating consumers about their rights and responsibilities
(b) Helping consumers in getting their grievances redressed
(c) Protecting the interests of consumers
(d) All of the above
Answer
Answer: d
4. Jagga started a small stationery shop in the nearby market. In pursuit of earning higher profits in a short term, he overpriced all his products by 20%. Gradually, the consumers understood his pricing strategy and stopped coming to his shop for making any purchase. Identify the related point highlighting the importance of consumer protection from businessmen’s point of view.
(a) Long-term interest of business is assured
(b) Business uses society’s resources so they need to safeguard consumer’s interests.
(c) Social responsibility towards consumers as an important interest group.
(d) It is the moral obligation of the businessmen to give due consideration to the consumer’s interests.
Answer
Answer: a
5. Dipika Pallikal, the Padma Shri recipient, in a petition filed in 2012 said that she had faced humiliation and loss of reputation, as a transaction using a bank’s debit card at a hotel in the Netherlands’ Rotterdam failed, though she had a balance of more than 10 times the billed amount in her account. The bank claimed that the incident was a case of “force majeure”, which means a natural and unavoidable catastrophe or an act of God, and was beyond is control. A consumer court in Chennai has directed the bank to pay a compensation of lakh to Dipika Pallikal for “deficiency in service”. The bank was also directed to pay her ₹5,000 as expenses. Identify the right of consumers being exercised in the given case.
(a) Right to safety
(b) Right to be heard
(c) Right to seek redressal
(d) Right to consumer education
Answer
Answer: c
6. When Aaradhya, inspite of paying the full price of the plot as per the terms and conditions of the allotment letter, was not given the possession of the plot by the builder, she filed a case in the State Commission. Identify the right of consumers being exercised in the given case.
(a) Right to safety
(b) Right to be heard
(c) Right to seek redressal
(d) Right to consumer education
Answer
Answer: b
7. Ranjan bought a bottle of soft drink of a famous beverage company and found a gutka pouch floating inside the bottle. He forwarded a legal notice to the company, accusing it of the deficiency in service that could cause health hazard to the consumer. Identify the right of consumer being violated in the given case.
(a) Right to safety
(b) Right to be heard
(c) Right to seek redressal
(d) Right to consumer education
Answer
Answer: a
8. Siddhartha booked several rooms in a reputed five-star hotel in Goa for his destination wedding. On the day of his wedding, when his friend Ramandeep, after attending the lunch party, returned to his room to take a shower, he had a fall in the bathroom. The bathroom was three stairs down to the bathing area and there was a handle bar to the right. On the second step, Ramandeep slipped badly and fell on his face with a great force, resulting in multiple fractures. He filled a case against the hotel for compensation for the injuries suffered due to faulty designing of its room. Identify the right of consumers being violated in the given case.
(a) Right to be heard
(b) Right to seek redressal
(c) Right to consumer education
(d) Right to safety
Answer
Answer: d
9. A consumer court in Pune slapped a ₹55,000 fine on a reputed online food-delivery company along with a hotel for delivering non-vegetarian food to a lawyer who had ordered a vegetarian dish. He had ordered paneer butter masala but was delivered butter chicken instead. When he reportedly registered the complaint, the hotel promised to replace it and send another parcel of food with the correct dish. However, Deshmukh allegedly received butter chicken instead of paneer butter masala the second time as well. Deshmukh sent notices to both the restaurant and the online food-delivery cpmpany for ‘hurting religious sentiments’. Identify the right of consumers being violated in the given case.
(a) Right to be heard
(b) Right to seek redressal
(c) Right to choose
(d) Right to safety
Answer
Answer: c
10. A popular nationalised bank has been fined ₹8 lakh by the country’s highest consumer court, National Consumer Disputes Redressal Commission (NCDRC), for not sharing complete insurance policy details with a customer. The bank has been ordered to pay the full amount as compensation to the customer. Identify the right of consumers being violated in the given case.
(a) Right to be heard
(b) Right to seek redressal
(c) Right to information
(d) Right to safety
Answer
Answer: c
11. Naina, her husband and her two minor daughters were travelling from Mumbai to Delhi, availing a company’s flight services in 2018. The airlines had issued boarding passes to all of them. Naina claimed in her plea that the airlines left all her family at the Mumbai Airport without informing them, despite their being in the airport premises. The family had to stay in a hotel and purchase new tickets the next day. The State Consumer Disputes Redressal Commission (SCDRC). on hearing the plea, asked an airline company to pay ₹50,000 to Naina and her family. Identify the right of consumers being exercised in the given case.
(a) Right to safety
(b) Right to be heard
(c) Right to seek redressal
(d) Right to consumer education
Answer
Answer: c
12. Identify the right of consumers being promoted in the picture given on the right.
(a) Right to safety
(b) Right to be heard
(c) Right to seek redressal
(d) Right to consumer education
Answer
Answer: d
13. Identify the right of consumers being exhibited in the picture on your right.
(a) Right to choose
(b) Right to be heard
(c) Right to seek redressal
(d) Right to consumer education
Answer
Answer: a
14. Identify the right of consumers being promoted in the picture.
(a) Right to safety
(b) Right to be heard
(c) Right to seek redressal
(d) Right to consumer education
Answer
Answer: a
15. Identify the right of consumers being promoted in the given picture.
(a) Right to seek redressal
(b) Right to consumer education
(c) Right to information
(d) Right to be heard
Answer
Answer: c
16. Identify the responsibility of consumers being promoted in the picture.
(a) Buy only standardised goods
(b) Read labels carefully
(c) Assert yourself to ensure that you get a fair
(d) Be honest in your dealings
Answer
Answer: c
17. Identify the responsibility of consumers being highlighted in the picture given below.
(a) Be honest in your dealings
(b) Learn about the risks associated with products and services
(c) Assert yourself to ensure that you get a fair deal
(d) Respect the environment.
Answer
Answer: b
18. Recently, Yamini purchased a pack of dog food for her pet. It was nowhere mentioned on the pack that it had to be mixed in lukewarm water in order to ensure easy digestion. Therefore, Yamini kept serving the food to her pet by mixing it in cold water. As a result, her pet fell ill and had to be hospitalised. Identify the right of consumers being ignored by the company marketing the pet food.
(a) Right to consumer education
(b) Right to information
(c) Right to choose
(d) Right to be heard
Answer
Answer: b
19. Which of the following types of cases are filed in the State Commission?
(a) When the value of the goods or services in question, along with the compensation claimed, exceeds ₹20 lakhs but does not exceed ₹1 crore.
(b) When the value of the goods or services in question, along with the compensation claimed, exceeds ₹20 lakhs but does not exceed ₹2 crore.
(c) When the value of the goods or services in question, along with the compensation claimed, exceeds ₹40 lakhs but does not exceed ₹1 crore.
(d) None of the above
Answer
Answer: a
20. Where can the aggrieved party appeal further in case he is not satisfied with the order of the District Forum?
(a) National Commission
(b) State Commission
(c) Supreme Court of India
(d) All of the above
Answer
Answer: b
21. In case an aggrieved consumer is not satisfied with the decision of the State Commission, he can make a further appeal in
(a) National Commission
(b) District Forum
(c) Supreme Court of India
(d) All of the above
Answer
Answer: a
22. In case an aggrieved consumer is not satisfied with the decision of the National Commission, he can make a further appeal in
(a) State Commission
(b) District Forum
(c) Supreme Court of India
(d) All of the above
Answer
Answer: c
23. Which of the following statements is not true with regard to the District Forum?
(a) It consists of a President and three other members, one of whom should be a woman.
(b) The members are appointed by the District Government.
(c) A complaint can be made to the appropriate District Forum when the value of the goods or services in question, along with the compensation claimed, does not exceed ?10 lakhs.
(d) All of the above
Answer
Answer: d
24. Which of the following statements is true with regard to the State Commission?
(a) It consists of a President and not less than two other members, one of whom should be a woman.
(b) The members are appointed by the State Government concerned.
(c) A complaint can be made to the appropriate State Commission when the value of the goods or services in question, along with the compensation claimed, exceeds ₹20 lakhs but does not exceed ₹1 crore.
(d) All of the above
Answer
Answer: d
25. Which of the following statements is not true with regard to the National Commission?
(a) It consists of a President and at least five other members, one of whom should be a woman.
(b) The members are appointed by the Central Government.
(c) A complaint can be made to the National Commission when the value of the goods or services in question, along with the compensation claimed, exceeds ₹1 crore.
(d) Where the aggrieved party was not satisfied with the order of the National Commission, the case can be taken to the Supreme Court of India.
Answer
Answer: a
26. Which of the following functions are carried out by the consumer organisations?
(a) Publishing periodicals to impart knowledge about consumer issues.
(b) Providing legal assistance to consumers.
(c) Filing complaints in appropriate consumer courts on behalf of the consumers,
(d) All of the above
Answer
Answer: d
27. In case a consumer is not satisfied with the order passed in the State Commission, he can further make an appeal in the National Commission within a time period of
(a) 10 days
(b) 20 days
(c) 30 days
(d) 45 days
Answer
Answer: c
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