Post Utme Osustech 2019 Commerce Question 20

Practice objective / multiple choice question 20 from the 2019 Post Utme Osustech Commerce examination.

Post Utme Osustech 2019 Commerce Objective / Multiple Choice

Question 20 POST_UTME_OSUSTECH • 2019 • COMMERCE • objective

A consumer protection law is a law that protects consumers from unfair or deceptive business practices. Discuss the importance of such laws in a market economy.

Answer Options

A. Consumer protection laws are not important in a market economy, as they stifle competition and innovation.

B. Consumer protection laws are important in a market economy, as they protect consumers from unfair or deceptive business practices.

Correct Answer C. Consumer protection laws are very important in a market economy, as they promote fair competition and protect consumers' rights.

D. Consumer protection laws are not important in a market economy, as they are unnecessary and burdensome.

Correct Answer

Correct Option:

Consumer protection laws are very important in a market economy, as they promote fair competition and protect consumers' rights.

About This Question

This is Post Utme Osustech 2019 Commerce Question 20. It is one of the objective questions from the 2019 Post Utme Osustech Commerce examination.

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