Class 12 Business Studies Important Questions are published on its official website for pdf download. 

  • This article provides an important set of questions & answers to the unit-wise Class 12 Business Studies Syllabus
  • The questions are researched by experts which can be expected in CBSE class 12 Board Exam 2020.
  • Some extra practice questions are also provided in this article for testing student's
  • ability to answer board exam questions according to weightage.

Class 12 Business Studies Important Questions

Students who want to test themselves besides learning from the two books of Business Studies for class 12th board exam will consider the given important questions to be helpful. 

Board exam Questions

The given long and short type questions answers are from the NCERT textbook and the latest CBSE Sample paper.

Principles and Functions of Management 

Chapters from 1 to 8 are included in the NCERT book: ‘Principles and Functions of Management’. Questions from this book carry a weightage of 50 marks in the board examination. So, it is crucial to prepare and check the level of questions asked from chapters of this book.

Below are chapter-wise board exam questions that students can expect to see in board examination 2020. 

Chapter 1: Nature and Significance of Management

Q1- Explain the term Management?

Ans- Management is a process of getting the work done that is important for an organization to achieve its goal in an efficient and effective manner. 

Q2- What are the two important characteristics of management.

Ans- The two important characteristics of management are mentioned below:

  • Continuous Process- It is a continuous process. The various functions of management i.e controlling, organising, planning, directing and staffing must be performed on a regular basis by the managers. It must be noted that the priority of the manager may differ on a regular basis.
  • Pervasive- Management is pervasive in all forms of organizations. Meaning all organisations, whether large or small, working for any interest or in any region needs management for the smooth functioning.

Q3- Management is to be considered both science and art. Explain

Ans- The parts of both science and art can be considered in management. Art is the involvement of theories and hypotheses while developing the management of an organization.

While with experimentation and observation, the rules of science can be easily applicable to the managerial system.

Q4- State the basic features of management as a profession

Ans- The basic features of management as a profession are:

  • Entry Restriction- Being a manager doesn’t require any specific qualifications or degrees, however, professional knowledge in terms of diplomas and degrees as well as experience is required. These basic requirements restrict the entry of people in the management field.
  • Synchronized Knowledge- Management can be defined as a well-defined body of knowledge consisting of principles and theories. This knowledge is gained through various colleges, institutes, and books.
  • Code of Conduct- Ethical code makes sure of the management which is effective and efficient in its manner. It ensures that the goods and services are provided at a fair price.

Q 5- Coordination is the essence of management. Do you agree? Give reasons. 

Ans- Coordination is no doubt the essence of management. Coordination means a path which links up the group functions. It starts from the stage of planning where the objectives and goals of the organisations are set. Division interdependence, common goal, and work allotted are few of the reasons which signify the essence of the management.

Q6- ‘Management is considered to be three-tier machinery’. Why?

Ans- Management is considered to be three-tier machinery because of the three levels involved:

  1. Hierarchy-top
  2. Middle
  3. Operation

Q 7- Why do you think management has the characteristics of a full-fledged profession?

Ans- There are few characteristics of management making it a full-fledged profession:

  • Professional Association- A professional must be a member or have an association with a statutory body that is responsible for stating the laws.
  • Code of Conduct: Professionals of any organisation have to abide by the rules and regulations which are responsible for regulating the functions of that profession. There is a set Code of Conduct that the professional must follow for the smooth functioning of the organisation
  • Systemized Knowledge- Management has a systemized set of Developed on several theories and principles over years along with continuous experimentation and observation. 

Chapter-2: Principles of Management

Q1- What is meant by ‘Management Principles’?

Ans- Principles of Management refers to the broad and general guidelines for managerial decision making and traits.

Q2- Briefly explain ‘discipline’ and ‘scalar chain’ as the principles of general management.

Ans- Discipline: Discipline implies that an establishment must follow the rules and regulations and make sure that the compliance to set some stipulated policies and rules. Discipline certainly requires some good supervisors at all the levels with clear and unbiased agreements and judicious application of penalties.

Scalar chain: Scalar chain refers to a defined, established pathway of authority and communication in the order of highest to the lowest.

Q3- In what way the Principle of ‘Unity of Command’ is useful to the management? Give a brief explanation.

Ans- The 'Unity of Command' principle states that any person should be answerable to only one authority figure. This principle is violated if an individual receives the command from two or more people. According to Fayol, this principle has an effective role in management.

Q4- What is the importance of the principles of management?

Ans- The importance of the principles of management are mentioned below:

  • Furnishing managers with beneficial insights: These principles of management help in raising the managerial effectiveness by adding to their knowledge, skills and ability to comprehend the various situations more equitably.
  • Scientific decisions: Management principles assists the managers in taking the decisions that are based on the goal-oriented situation. Hence, the decisions taken are certainly logical, unbiased and free from any sort of prejudices.
  • Fulfilling social responsibilities: These principles of management are outlined in such a way that they assist in fulfilling social responsibilities.
  • Management training, education and research: These principles of management are utilised as a basis for management training, education and research.

Q 5- Explain in brief the ‘discipline’ and ‘scalar chain’ as the principles of general management.

Ans- The brief explanation of Scalar Chain and Discipline are given below:

  • Discipline: Discipline means that an establishment must follow the rules and regulations. Discipline requires good supervisors at all levels who have clear and unbiased agreements.
  • Scalar chain: Scalar chain means a defined way of authority and communication. The order that it follows is from highest to the lowest.

Q6- If an organisation is not providing the right place for physical and human resources, which principle is violated?

Ans- In this case, the ‘principle of order’ is violated. To run the tasks smoothly in the organization, it is important that the right people and the right resources are available. The violation of this principle leads to chaos in the workplace.

Q7- Name the organisational structure that assists in increasing managerial and operational efficiency.

Ans- Functional structure assists in increasing managerial and operational efficiency.

Chapter-3: Business Environment

Q1- Explain what is Business Environment?

Ans- Business environment means all those external forces which affect the performance of a business organisation. These forces can be political, social, economic, technological or legal. From consumers to government, they all impact the smooth functioning of an enterprise, hence it is important for an organisation to understand the nature of these external forces.

Q2- How can a firm cope up with the varying technical environment?

Ans- By enhancing and developing new ways of performing things.

Q3- Discuss why it is important for business enterprises to understand their environment?

Ans- Check the following points which are important to understand the business environment.

  • Adjusting to Changes: The business environment has a dynamic nature. Adjustment to various changes in technology, consumers' taste, and preference, government policies is important for an enterprise.
  • Threat Identification: Aside from the positive opportunities, it is important to identify the threat that the enterprise might face in the future.
  • Accumulation of useful resources: Outer environment provides resources to the enterprises. It becomes important that the output provided by the organization is credible and desired in the local region.
  • Performance improvement: The continuous analysis of the business environment helps the enterprise in understanding the ongoing demands. The moderation of policies can also take place with this.

Q4- What is the role of the political environment in shaping the business?

Ans- It involves political conditions such as peace and general stability in the nation and the traits of the elected government representatives hold towards the business concerns. Political stability certainly gains confidence among the society of the business whilst political instability, incorrect law and order situation might bring uncertainty to the business pursuits. For instance, post Globalisation, Government of India permitted many companies to get into the Indian market to boost the different industries like food processing industry etc.

Q5- What are the impacts of demonetization on real estate, private wealth and real estate. 

Ans- Demonetisation is the withdrawal of the status of legal tender to the currency in circulation. Demonetisation was announced in India from the midnight of November 8, 2016. The government announced the Demonetization of ₹ 500 and ₹ 1,000 currency notes. Its impact is mentioned in the points below:

  • Private Wealth: It leads to the decline of private wealth since high demonetized notes were not returned due to demonetization.
  • Interest Rate- There was an increase in the bank deposits leading to the increased number of financial savings. There was a tremendous decline in cash transactions.
  • Real Estate- The prices of the real estate were also reduced

Q6- The social environment of business is important for a business enterprise.’ Explain.

Ans- A business is subordinate to an external social environment and also its own internal social environment. The external social environment gives both perils and opportunities for a business. Businesses that break to accommodate social preferences associated with their goods and services will fail. The failure of any establishment in adapting to the changes in the social environment would certainly lead to dissatisfaction amongst its consumers and its products being rejected.

Q7- Mention the benefits of understanding the business environment?

Ans- Take a look at the benefits of understanding the business environment:

  1. Gathering useful resources
  2. Identifying threats in prior
  3. Help in the formulation of planning and policies
  4. Identifying opportunities and getting a perfect advantage out of it
  5. Accommodating and adjusting to rapid changes

Q 8- In what way a firm can cope with the changing technical environment?

Ans- By enhancing their policies and planning and coming up with new ways of performing things.

Chapter-4: Planning

Q1- What is Planning?

Ans- Planning refers to ascertaining in advance what to do and how to do. This is contemplated as one of the elementary managerial functions.

Q2- What are the qualities that are required for planning?

Ans- Imagination, Intelligence, Sound Judgement and Foresight.

Q3- What are the strategic decisions that are taken by business organisations?

Ans- Strategic decisions include decisions like if the organisation is going to continue to be in the same line of business, or develop the new lines of activity with the existing business or plan on acquiring a dominant position in the same market.

Q 4- Mention any six importance of planning.

Ans- The importance of planning are mentioned in the points below:

  • Reduces the risk of uncertainty
  • Encoura- ges creative ideas
  • Gives proper direction to any course of action
  • Wasteful & unnecessary activities are reduced
  • Promotes decision making
  • Maintains standards of controlling

Q5- If planning also means making the details for the future, why does it not ensure success?

Ans- Planning also involves working out the details of the future but since the upcoming events and changes are unpredictable, planning does not ensure success. There are a number of external forces that keep affecting the functioning of a business. These forces are changeable and complex in nature.

Q6-What is the 6 importance of Planning?

Ans- The importance of planning is as follows:

  • It provides a perfect direction for any course of action
  • Risk of uncertainty is reduced
  • Helps in decision making
  • Initiates standards for controlling
  • Promotes creative ideas
  • Reduces the number of wasteful activities

Q7- Is planning worth the huge costs involved? Explain.

Ans- Planning certainly involves a huge cost. However, the cost involved in planning is negligible when it is being compared to its importance. Below mentioned are a few factors due to which we can say that planning is a vital action despite the huge costs:

  • Gives direction: Planning precisely states the goals that are to be accomplished. Hence, it is an acting guide for the actions that are to be taken. It certainly renders direction to the actions of different departments of an organisation.
  • Risks are reduced: By guiding an organisation in the right direction, it assigns its managers to scrutinize and predict changes. This leads to a reduction in uncertainty of the predictable events.
  • Minimized overlapping: As all the managers are well informed with the policies and plans of an establishment, they agree to coordinate different activities together to attain those goals.
  • Encourages creativity: Planning is one of those aspects that promotes innovative ideas and thoughts. It is a vital pursuit, which demands the best of the managers thinking abilities and skill sets.
  • Assists in decision making: Planning serves as the foundation for making the decisions. It involves scrutinizing the future, assessing the various courses of action and picking the best alternative.

Chapter-5: Organising

Q1- Name the steps in the process of organising.

Ans- The steps for organising are:

  • Department Creation: Actions which are divided are further grouped into units based on their similarity in nature
  • Dividing and Identifying the Work: Under organising, the first-ever step is to identify the activities and divide them as per the defined plans.
  • Relationship establishment: Any kind of organisation needs a proper hierarchical structure in order to work efficiently. 

Q2- Name the organisational structure that assists in managerial and operational efficiency.

Ans- Functional structure assists in managerial and operational efficiency.

Q 3- In what way an informal organisation supports a formal organisation.

Ans- These factors of the informal organisation supports the working of formal organisation:

  • Coordination: Informal relationship in developing a sense of belongingness among working people, towards each other and towards the organisation.
  • Free Flow of Communication: Informal organisation helps in the establishment of a free flow of communication between the head and the employee
  • Harmonious Environment: Informal structure develops healthy relationships which help in building a harmonious working environment in the organisation

Q4- Which Organisational structure promotes initiative & flexibility

Ans- Divisional structure in the organisation promotes flexibility and initiative.

Q5- Mention the elements of delegation.

Ans- The three main elements of the delegation are:

  • Responsibility: Responsibility means the adherence and answerability of the subordinate to complete the task given.
  • Authority: Authority refers to the power given to an individual who can command and instruct the
  • Accountability: Accountability refers to the answerability of the superior for the outcome of the work that he or she

Q6- Define ‘Delegation.’

Ans- Delegation is defined as the transfer of authority and responsibility by the superior to his/ her subordinates.

Q7- State any 3 merits of a formal organisation.

Ans- Merits of a formal organisation:

  • It is always easier to fix the responsibility since the mutual relationships or associations are precisely defined.
  • It maintains the unity of command via an established chain of command.
  • It furnishes stability to the establishment as there are particular regulations to guide the behaviour of the employees.

Chapter-6: Staffing

Q1- Mention briefly the important sources of recruitment.

Ans- The two very important sources of recruitment in any organisation are.

  • Internal sources: Internal sources of recruitment are the sources that are within the organisation
  • External Sources: External sources of recruitment are those sources of recruitment that exist outside the organisation

Q2- Why is ‘employment interview’ conducted in the process of selection?

Ans- The primary purpose of the employee interview is to assess the applicant’s feasibility for the designation by seeking from him or her and to check whether the person is suitable for the job post.

Q3- Why Aptitude test conducted during the process of selection?

Ans- An aptitude test is conducted to measure and scale the applicant’s potential for learning a skill.

Q4- What is Training? In what way is it different from education?

Ans- Training is to enhance the skills, abilities, and competence that is required for a specific job profile. While education means the process which improves the overall knowledge and understanding of the employees. 

Q5- Why is an 'employment interview’ conducted by an organisation in the process of selection?

Ans- Organisations conduct employee interviews in order to assess the applicant’s feasibility for the position and to check if the person is suitable for the prescribed job post.

Q6- What is the next step of selection?

Ans- Placement and Orientation.

Q7- The current day human resource management is a broader concept. Explain.

Ans- The current day human resource management involves:

  • Assists in accomplishing the goals that are set by the establishment along with achieving the personal goals.
  • The utilisation of the employees’ skill sets in an efficient manner
  • Enhance job satisfaction of the employees.

Chapter-7: Directing

Q1- Mention any three principles of Directing.

Ans- The three principles of Directing are:

  1. Maximum Individual Contribution
  2. Managerial Communication
  3. Leadership

Q2- State any two non-financial incentives.

Ans- Status-In a company context, status is referred to as the position or rank given to an employee. In simple words, status can be any managerial post assigned to a person.

Career Advancement Position- It refers to higher-level progression in one’s career. A person’s progress can be a move from an entry-level job to a managerial position with the same field.

Q3- Explain the meaning of ‘motivation’ as an element of directing.

Ans- Motivation in the context of an organisation means the process of making subordinates act in a desired manner so as to achieve certain organisational goals.

Q4- Mention various types of leadership s?

Ans- The different kinds of leadership s are:

  • Democratic leadership
  • Autocratic leadership
  • Laissez-Faire leadership

Q5-What is meant by ‘Esteem needs’ and ‘self-actualisation needs’ in relation to the motivation of an employee?

Ans-

  • Esteem needs- It refers to the need for self-esteem, self-confidence, and respect. Esteem needs are the foundation of human desire, which needs to be accepted and valued by others. Esteem need includes self-belief, confidence, personal and social acceptance, strength, and respect from others.
  • Self-actualisation needs- It refers to the need for personal development and discovery of what one is capable of doing. Self-actualisation is those individuals who are fulfilled and correctly doing what they are capable of doing.

Q6- Mention the semantic barriers of communication?

Ans- Semantic barriers of communication are the use or understanding of language. Sometimes certain words, sentences or phrases are misunderstood which can lead to the different meanings which can lead to the obstruction of effective communication. Such barriers in communication that arise out of the difficulty in understanding words and sentences are known as semantic barriers.

Q7- Give three points of importance for directing the function of management.

Ans- The three points highlighting the importance of directing the function of management.

  • Directing Integrates Employee’s Effort
  • Motivation and Leadership
  • Directing Initiates action

Q8- What are the qualities of a good leader? Do qualities alone ensure that leadership will be successful?

Ans- No, the presence of the leadership qualities does not ensure its success. Some of the qualities of a good leader are:

  • Confidence
  • Responsibility
  • Dynamic
  • Intelligence
  • Inspiration

Chapter-8: Controlling

Q1- What are the steps involved in the process of Controlling?

Ans- The steps that are involved in the controlling process are:

  • Measuring Actual Performance
  • Setting Standards
  • Analyzing Deviation
  • Comparing the Performances

Q2-What is the formula of Return on Investment?

Ans- The formula of Return on Investment is. Return on Investment = Net Income / Cost of Investment

Q3- Explain why planning is an empty exercise without controlling function?

Ans- Planning is considered to be an empty exercise without controlling function because monitoring and implementing the formulated plan is based on the controlling function.

Q4- Discuss how the management audit serves as an effective technique of controlling.

Ans- The following points show the effectiveness of the management audit on controlling:

  • Improves Efficiency
  • Adapting to Environmental Changes
  • Identification of Deficiencies
  • Enhances Coordination

Q5- Mention three points highlighting the importance of Controlling.

Ans- Points given below highlights the importance of controlling:

  • Efficient use of resources
  • Improving employees motivation
  • Helps in accomplishing company goals

Q6- ‘Planning is looking forward and controlling is looking back’.Comment

Ans- Planning It is the first step on deciding what to do, how, where and when a specific work has to be done. It is an activity where a goal and how to accomplish that goal is decided. Whereas, Controlling involves evaluation of performance that matches the standard of the organisation. It is the primary goal and responsibilities of all management in any enterprise. However, the statement ‘Planning is looking forward and controlling is looking back’ is partially right because, though planning is done for the future, the foundation of planning is based on the past experiences and activities. On the other hand, though controlling includes past assessment, it aims in enhancing future performance by taking correct steps and measures.

Q7- What is Controlling.

Ans- Controlling is to ensure that activities in an organisation are performed as per the plans. 

Business Finance and Marketing

Chapters from 8 to 12 are included in the NCERT book: ‘Business Finance and Marketing’. Questions from this book carry a weightage of 30 marks in the board examination. So, it is important to prepare and check the level of questions asked from chapters of this book.

Below are chapter-wise board exam questions that students can expect to see in board examination 2020. 

Chapter-9:Financial Management

Q1- Mention the main objectives of financial management? Explain.

Ans- The objective of financial management is to opt for the kind of financial decisions that will maximize the shareholders' wealth.

Q2- What are current assets? Give at least four examples of such assets.

Ans- Current asset means those assets which the firm can easily convert into cash or cash equivalents in a short period of time (less than a year). The four examples of current assets are:

  • Cash Equivalents
  • Short term investments
  • Debtors
  • Stocks

Q3- What is Financial Management?

Ans- Financial Management means directing, planning, organizing, and controlling the financial pursuits such as the utilization of the firm of the capital. It means applying the standards of general management to the financial resources of the firm. 

Q4- How does the production cycle impact working capital?

Ans- Production cycle impacts working capital as the working capital requirement will be greater with a longer production cycle.

Q5- While performing the financial function every manager makes three decisions. Explain those decisions.

Ans- A manager take the three following decision while performing the financial function

  • Financing Decision- This decision is about choosing the cheapest source from the amount of finance proposed from various short and long term sources.
  • Investment Decision- This is about choosing the cheapest proposal from all the available alternative proposals, which gets the highest possible return for the investors.
  • Dividend Decision- This decision is to choose between whether the earnings should be distributed to a stockholder as a dividend or to retain the earnings to finance the long-term plans of the company.

Q6- In what way does working capital affect both the liquidity as well as the profitability of a business?

Ans- Working capital of business means an excess of current assets (such as debtors, stock or cash in hand, etc.) over current liabilities. With the increase in the amount of working capital, the liquidity of the business also increases. But, since current assets offer low returns, the profitability of the business falls with the increase in working capital.

Q7- Explain the factors affecting dividend decisions?

Ans- Few of the factors affecting dividend decisions are:

  • Growth Prospects
  • Stable Dividends
  • Preference of the shareholders
  • Amount of Earning
  • Taxation Policy
  • Cash Flow Position

Chapter-10: Financial Markets

Q1-Name two money market instruments

Ans- The two money market instruments are:

  1. Treasury Bills
  2. Commercial Papers

 Q2- Give any four functions of the Stock Exchange.

Ans- The functions of the Stock Exchange are:

  • Price Determination
  • Providing Liquidity and Marketability
  • Facilitating Economic Growth
  • Safe and Fair Market

Q3- Briefly mention in points the objectives of NSE (National Stock Exchange)

Ans- The objectives of the National Stock Exchange are :

  • With the help of an electronic trading system, NSE provides a fair, efficient and transparent securities market
  • NSE aims at setting up a single nationwide trading system which provides trading facility in all types of securities
  • NSE enables shorter settlement cycles and books entry settlements
  • National Stock Exchange also aims at increasing the liquidity of the securities
  • It aims at meeting the international standards and benchmarks of a stock exchange

Q4- Discuss the recent Capital Market reforms in India

Ans- A capital market is divided into two parts i.e., Primary Market and Secondary Market. The primary market deals with the issue of new securities. While Secondary market deals in the purchase and sale of the existing securities.

After the 1991 reform, a three-tier system came into the Indian Stock Market. This three-tier system consisted of the National Stock Exchange, Regional Stock Exchanges, and Over the Counter Exchange of India (OTCEI).

Q5- What are the protective functions of the Securities and Exchange Board of India.

Ans- The protective functions of SEBI are:

  • It examines violation of insider trading and rules, and disobey to the companies act.
  • Gives information about the companies as per the client’s requirement.
  • It provides guidelines regarding investments in securities.
  • Defines code of conduct for business practices

 Q6- What are various Money Market instruments

Ans- The various Money Market Instruments are:

  • Call Money
  • Treasury Bill
  • Certificate of Deposit
  • Commercial Paper
  • Commercial Bill

Q7- State the protective function of the Securities and Exchange Board of India.

Ans- The protective function of the Securities and Exchange Board of India is.

  • It examines violations such as violation of rules and insider trading, and disobey to the companies act.
  • It provides information about the companies needed by the client.
  • It provides guidelines related to the investments in securities.
  • It also provides a code of conduct for business practices

Chapter-11: Marketing

Q1- How does labelling act as a silence salesman?

Ans- Labelling acts as a silence salesman because it attracts the customer by providing the necessary information. It acts as a promotional tool.

Q2- Define marketing? Explain its functions in the process of exchange of goods and services?

Ans- Marketing is the process wherein the buyers and sellers interact with each other with the purpose of purchase and sale of goods and services. Marketing involves certain functions like designing the product, planning, packaging, and labeling of the product and many other ways. It also involves activities after the sale of the product.

Q3- Mention a few characteristics a good brand name should have.

Ans- Few characteristics that a good brand should have are as follows.

  • Easy spell, short, and recognizable.
  • Unique from another brand.
  • Suggest product qualities and benefits.
  • Handy to accommodate the new product.
  • Adaptable to packing and labeling.
  • Adaptable in different languages and advertising media.

Q4- Discuss the role of ‘sales promotion' an element of promotion mix.

Ans- Sales promotion is the incentives that are offered to the buyers with the purpose of encouraging them to purchase the product. It attracts customers and induces them to immediately purchase the product.

Q5- Give any four characteristics a good brand name should have.

Ans- The four characteristics that a good brand name should have are:

  • It must showcase product qualities and benefits
  • The brand name must be adaptable to packing and labeling
  • Brand names should be easy to spell, short, and recognizable.
  • It must be unique from any other

Q6- What are the different factors that affect the fixation of the price of a product?

Ans- The different factors affecting the fixation of the price of a product are.

  • Good cost
  • The level of competition in the market
  • Demand and Utility of the product
  • Legal and government regulations regarding the product

Q7- Mention the factors which affect determining the price of a product or service? Explain.

Ans- The factors affecting the product price or service are:

  • The demand for the Product
  • Cost of the Product
  • Objectives of Pricing
  • Government Regulations
  • Degree of Competition in the market

Chapter-12: Consumer Protection

Q1- Mention when as a consumer you are not able to resolve your grievances under the Consumer Protection Act.

Ans- As a consumer, we are not able to resolve our grievances under the Consumer Protection Act when we do not fulfill our responsibility as a customer.

Q2- An organisation is using sub-standard wiring in its cooler. Which consumer right is being violated?

Ans- Right to Safety is being violated.

Q3- What is meant by ‘customer’ as per the Consumer Protection Act, 1986?

Ans- As per the Consumer Protection Act, 1986, the consumer is defined as.

  • A consumer is someone who has paid money to buy any product with the approval of the seller. However, any individual who purchases goods with the motive of resale or commercial propose is not regarded as a consumer.
  • An individual who avails services in return for a price or money is considered as a consumer. It includes all the individuals who have avail services and paid for it.

Q4- Mention the Acts passed by the Indian Government for the protection of consumer's interests.

Ans- The various acts passed by the Government are:

  • The Consumer Protection Act, 1986
  • The Indian Contract Act, 1872
  • The Sale of Goods Act, 1930
  • The Essential Commodities Act, 1955
  • The Agricultural Produce (Grading and Marking) Act, 1937
  • The Prevention of FoodAdulteration Act, 1954
  • The Standards of Weights and Measures Act, 1976
  • The Trade Marks Act, 1999
  • The Competition Act, 2002
  • The Bureau of Indian Standards Act, 1986

Q5- Who can file a complaint in the consumer court?

Ans- Any of the following can file a complaint in a consumer court:

  • Registered consumer association or organisation
  • The State and central government
  • Any consumer
  • A consumer or a group of consumers on behalf of a number of consumers having the same interest
  • A legal heir or a representative of the deceased consumer

Q6- If an organisation is using substandard wiring in its cooler. Which of the consumer rights is being violated?

Ans: The right to safety is the consumer's right which is getting violated.

Q7- Explain the rights and responsibilities of the consumer?

Ans- Rights of the consumers are:

  • Right to be Informed
  • Right to be Heard:
  • Right to Choose
  • Right to Safety
  • Right to Seek Redressal
  • Right to Consumer Education

Responsibilities of the consumers are:

  • Looking for Quality Marks
  • Awareness
  • Reading Labels
  • Honest Transactions

Extra Practice Questions

Apart from the above question - answers, students are suggested to go through the below questions and try to find answers by themselves for better practice of the board examination. Weightage for each question is given in brackets along with the respective questions.

Q1-Explain briefly ‘discipline’ and ‘scalar chain’ as principles of general management. (3)

Q2- What is important while analyzing deviations in controlling? (1)

Q3-State any three limitations of planning. (5)

Q4-The Indian corporate sector has come face-to-face with several challenges due government policy changes in business and industry. Explain any five such changes. (5)

Q5-State the meaning of the ‘Product Promotion’ function of packaging. (3)

Q6-“There is no need for human resource planning as so many people are available in the market these days.” Do you agree with this statement? Give reasons.(3)

Q7-What is Organizational Structure? Distinguish between Functional and Divisional structure on the following bases: (i) Formation (ii) Managerial development (iii) Responsibility (iv) Suitability. (6)