Question

Identify the importance of consumer protection discussed in the following lines “Business organisations make money by selling goods and providing services to consumers. Thus, consumers form an important group among the many stakeholders of business and like other stakeholders, their interest has to be well taken care of.”

• A. Moral justification
• B. Business uses society’s resources
• C. Social responsibility
• D. Long-term interest of business

Answer 1

The Correct Option is C

The statement emphasizes the social responsibility of businesses to protect consumers, as they are key stakeholders and should be treated fairly.