NIOS Class 12 Introduction to Law Chapter 29 Unfair Trade Practices

NIOS Class 12 Introduction to Law Chapter 29 Unfair Trade Practices Solutions English Medium As Per New Syllabus. to each chapter is provided in the list so that you can easily browse throughout different chapters NIOS Class 12 Introduction to Law Chapter 29 Unfair Trade Practices Notes and select need one. NIOS Class 12 Introduction to Law Chapter 29 Unfair Trade Practices Question Answers Download PDF. NIOS Study Material of Class 12 Introduction to Law Paper Code: 338.

NIOS Class 12 Introduction to Law Chapter 29 Unfair Trade Practices

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Unfair Trade Practices

Chapter: 29

Module – 7 B: Law Relating to Consumer Protection and Rights to Information

INTEXT QUESTIONS 29.1 

State true or false: 

1. Any practice that permits the hoarding or destruction of goods, or refusal to sell the goods or provide any services, with an intention to raise the cost of those or other similar goods or services, shall be an ‘Unfair Trade Practice’. 

Ans: True.

2. Offering any gifts, prizes or other items along with the goods when the real intention is different and is not an ‘Unfair Trade Practice’. 

Ans: False.

3. The practice of making any oral or written statement or representation which falsely suggests that the goods are of a particular standard quality, quantity, grade, composition, style or model is called unfair trade practice. 

Ans: True.

4. Selling any re-built, second-hand renovated, reconditioned or old goods as new goods is acceptable to the consumer and is not an ‘Unfair Trade Practice’.

Ans: False.

INTEXT QUESTIONS 29.2 

1. What is ‘Monopoly’? Give any one example. 

Ans: A monopoly exists when a single person or enterprise is the only supplier of a particular good or service, giving them complete control over the market price and supply.

Example: The Indian Railways has a monopoly in the operation of long-distance passenger trains in India.

2. Sanjana started a business of selling cakes. Varun started the same business and started selling cakes at a much lower price than the total cost of production of cakes. Eventually Sanjana had to close down her business and all her customers went to Varun. Do you call this an ‘Unfair Trade Practice’ by Varun? 

Ans: Yes, This is an unfair trade practice.

3. Name one Act which checks ‘Trade Monopoly’.

Ans: The Competition Act. 2002 checks ‘Trade Monopoly’

INTEXT QUESTIONS 29.3 

1. Name any two Acts which provide redressal in Unfair Trade Practices. 

Ans: The Consumer Protection Act, 1986 and the Competition Act, 2002.

2. What are anti-competitive agreements?

Ans: Agreements in respect of Production, supply, distribution, storage, acquisition or control of goods or provision of services that cause or are likely to cause appreciable adverse effects on competition within India are anti-competitive agreements.

INTEXT QUESTIONS 29.4 

1. Who is responsible for enforcing the Competition Act, 2002? 

Ans: The Competition Commission of India (CCI) is responsible for enforcing the Competition Act, 2002.

2. Mention any two functions of the Competition Commission of India.

Ans: Two functions of the Competition Commission of India: 

(a) Make the markets work for the benefit and welfare of consumers, and.

(b) Ensure fair and healthy competition in economic activities in the country for faster and inclusive growth and development of the economy.

TERMINAL EXERCISES

1. What is the full form of MRTP Act? 

Ans: Full form of MRTP Act is the  Monopolies and Restrictive Trade Practices Act

2. Is it true that the Competition Commission of India is a body of the Government?

Ans: Yes, it is true. The Competition Commission of India (CCI) is a statutory body of the Government of India, established under the Competition Act, 2002 to promote fair competition and prevent anti-competitive practices in the market.

3. Define Unfair Trade Practice? 

Ans: Unfair Trade Practice means a trade practice or a business practice which, for the purpose of promoting the sale, use or supply of any goods or for the provision of any service, adopts any unfair method or unfair or deceptive practice.

4. When did the Competition Act become fully functional? 

Ans: The Competition Act became fully functional on 20 May 2009, when all its major provisions came into force and the Competition Commission of India started functioning effectively.

5. Describe the main functions of the Competition Commission of India.

Ans: Two functions of the Competition Commission of India: 

(i) Make the markets work for the benefit and welfare of consumers. and

(ii) Ensure fair and healthy competition in economic activities in the country for faster and inclusive growth and development of economy.

(iii) To regulate combinations such as mergers, acquisitions, and amalgamations to ensure they do not harm competition.

(iv) To promote and sustain fair competition in markets for the benefit of consumers.

(v) To protect the interests of consumers by ensuring fair prices and choices.

(vi) To advise the Government on competition-related matters and policies.