Chapter 3, Problem 7AA

To determine

The best term which completes the sentence with correct meaning.

Answer to Problem 7AA

Option(g) − Guarantee.

Explanation of Solution

In the marketplace, consumerism seeks to ensure or guarantee the consumer rights. Ignorance of the rights of consumers is considered as the consumer exploitation. For the real protection of the consumer rights, it is very important for every consumer to know their rights and they should adopt and practice them.

Rest of the options do not fit in the answer because considering the rights of the consumers, the assurance of consumerism can only be expressed by the option ‘guarantee’ which ensures to protect the consumer right. No other option in the question provides with the sense of assurance.

Economics Concept Introduction

Introduction:

Consumerism can be defined as the protection of the rights and interests of the consumer by providing them with better services.

The basic consumer rights are:

• Right to choose.
• Right to safety.
• Right to information.
• Right to be heard.
• Right to seek redressal.