Question:medium

The importance of consumer protection from the business point of view includes: (A) Social responsibility
(B) Government intervention
(C) Business uses its own resources
(D) Long term interest of business

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Consumer protection is crucial for long-term business success, ensuring customer trust, ethical practices, and alignment with regulations.
Updated On: Mar 25, 2026
  • (A), (C) and only
  • (A), (B) and (D) only
  • (A), (B), (C) and (D) only
  • (B), (C) and (D) only
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The Correct Option is B

Solution and Explanation

Step 1: Assessing the Significance of Consumer Protection.
From a business standpoint, safeguarding consumers is paramount, not only for customer welfare but also for the enduring viability of the enterprise. Let us examine each proposition:
Step 2: Evaluating the Options.
- (A) Social Obligation: Enterprises bear a societal duty to shield consumers through the provision of superior goods, assurance of safety, and adherence to ethical conduct.
- (B) Governmental Regulation: State intervention is requisite for overseeing commercial activities, ensuring consumers are not exploited and that businesses are held accountable for their actions.
- (C) Proprietary Resource Utilization: This choice is tangential to consumer protection, as business resources may be allocated elsewhere, such as production, promotion, and research and development.
- (D) Business's Enduring Advantage: Consumer safeguarding fosters business resilience, cultivates loyalty, and enhances reputation, all fundamental to sustained success.
Step 3: Determination.
The pertinent factors contributing to the importance of consumer protection from a business perspective are:
- Social obligation
- Governmental regulation
- Business's enduring advantage
Consequently, the appropriate selection is option 2: (A), (B), and (D) exclusively.
Final Determination: \[\boxed{\text{The correct answer is (2) (A), (B) and (D) only.}}\]
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