Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Read the statements and choose the correct answer:<br>Assertion (A): Consumers need to be given legal protection against certain trade practices and business methods.<br>Reason (R): Protection as per market forces and 'Caveat Emptor' is not enough as perfectly competitive market is an economics dream and consumer sovereignty is a myth.

Which of the following are the objects of the Consumer Protection Councils
(1) The right to be protected against the marketing of goods and services which are hazardous to life and property
(2) The right to be informed about the quality, quantity, potency, purity, standard and price of goods or services so as to protect the consumer against unfair trade practices
(3) The right to seek redressal against unfair trade practices or restrictive trade practices or unscrupulous exploitation of consumers
(4) The right to consumer education:

A

(1), (2) and (4)

B

(1), (2) and (3)

C

(1), (3) and (4)

D

(1), (2), (3) and (4)

Which of the following are the objectives of the Consumer Protection Council?
1. The right to be protected against the marketing of goods and services, which are hazardous to life and property.
2. The right to be informed about the quality, quantity, potency, purity, standard and price of goods or services so as to protect the consumer against unfair trade practices.
3. The right to seek redressal against unfair trade practices or restrictive trade practices or unscrupulous exploitation of consumers.
4. The right to consumer education.

A

1, 2 and 4

B

1, 2 and 3

C

1, 3 and 4

D

1, 2, 3 and 4

An assertion and a reason are given below. Assertion: The phenomenon of nuclear fission generates great energy. Reason: The process in which a nucleus is broken into two parts is called nuclear fission. Choose the answer. A. Both Assertion and Reason are true and Reason is the correct explanation of Assertion. B. Both Assertion and Reason are true but Reason is not the correct explanation of Assertion. C. Both Assertion and Reason are false. D. Assertion is true but Reason is false.

A

B

D

C

B

D

C

Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). Read the statements and choose the correct answer using the given below.
Assertion (A): 'Act of God' is a kind of evitable accident with the difference that it arises out of the working of human forces.
Reason (R): The occurrence need not be unique, nor need it be one that happens for the first time; it is enough that it is extraordinary, and such as could not reasonably be anticipated.

A

Both (A) and (R) are true and (R) is the correct explanation of (A)

B

Both (A) and (R) are true, but (R) is not the correct explanation of (A)

C

(A) is true, but (R) is false

D

(A) is false, but (R) is true

Consider the following statements.
1. Business economics is a special branch of economics applied in business decision-making.
2. The nature of business economics is applied not theoretical.
3. The nature of business economics is based on micro economics.
Which of the statement(s) given above is/are correct?

A

Only 1

B

Both 1 and 3

C

Both 2 and 3

D

All of the above

Which of the following is not an agreement in restraint of trade?
1. A sells the goodwill of his business with an agreement not to carry on a similar business within specified local limits, so long as the buyer carries on a similar business.
2. A sells the goodwill of his business with an agreement not to carry on a similar business within India, so long as the buyer carries on a similar business.
3. A sells the goodwill of his business with an agreement not to practice the same trade for 25 years.
4. A sells the goodwill of his business with an agreement not to engage in any business competing or liable to compete in any way with the business for the time being carried on by the buyer.

A

1, 3 and 4

B

2, 3 and 4

C

3 and 4

D

1 and 3

Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R). Assertion (A): Tax should not be charged on dividend income from the shareholders Reason (R): Some economists are of the opinion that when tax has already been paid on the profit of the company and balance is distributed as dividend to the owners, tax need not be levied on them In the light of the above two statements, choose the correct answer from the options given below 1. Both A) and R) true and R) is the correct explanation of A) 2. Both A) and R) true but R) is NOT the correct explanation of A) 3. A) is true but R) is false 4. A) is false but R) is true

A

1

B

2

C

3

D

4

Given below are two statements, one labelled as Assertion (A) an d the other labelled as Reason (R). Read the statements and choose the correct answer.
Assertion (A) The marketing costs of reaching loyal consumers are much lower because the firm does not have to spend money on advertising and promotion campaigns to attract these customers.
Reason (R) A high level of brand loyalty does not insulate the firm from competition.

A

Both (A) and (R) are correct and (R) is the correct explanation of (A)

B

Both (A) and (R) are correct, but (R) is not the correct explanation of (A)

C

(A) is correct, but (R) is incorrect

D

Both (A) and (R) are incorrect

Direction-The question have two statements.
One is labelled as Assertion (A) and the other as Reason (R). You have to examine both the statements carefully and decide whether Assertion (A) and Reason (R) separately are true and if so then reason is the correct explanation of the assertion. Mark these items on the answer sheet.
Assertion (A): Interest payable on working capital should be treated as an item of operating expenses.
Reason (R): Interest is the cost of capital used in the business.

A

Both A and R are correct and R is the correct explanation of A

B

Both A and R are correct and R is not the correct explanation of A

C

A is correct but R is wrong

D

A is wrong but R is correct

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R).
Assertion (A) India choose Non-alignment as a foreign policy choice in the post-independence period.
Reason (R) NAM was an assertion of independence, equality and sovereignty.

A

Both A and R true and R is the correct explanation of A

B

Both A and R true but R is not the correct, explanation of A

C

A is true, and R is false

D

A is false, and R is true

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