Long Answer Type
Short Answer TypeGive any one relief available to consumer who suffers due to consumption of expired date medicine.
What is meant by ‘financial management’? State the primary objective of financial management.
Nisha, a school bag manufacturer decided to improve the product for the profit maximisation and thus added a water bottle holder to the existing design.
i. Identify the marketing management philosophy adopted by Nisha.
ii. Main focus and means and end.
Explain the following as factors affecting financial decision.
i. Cost
ii. Cash flow position of business
iii. Level of fixed operating cost
iv. Control consideration
Explain the following ‘Rights of a Consumer’.
i. Right to safety
ii. Right to consumer education.
1. Right to Safety: According to this act, consumer has a right to be protected against goods and services which are hazardous to life and health. For example, electrical appliances, which are manufactured with substandard products many not conform to the safety norms and might cause serious injury. Thus, consumers are educated that they should use electrical appliances which are ISI marked as this would be an assurance of such products meeting quality specifications.
2. Right to Consumer Education: According to this act, the consumer has a right to acquire knowledge and be well informed. He should be aware about his rights and the reliefs available to him in case of exploitation and injustice. Many consumer organisations and some businesses organisations are taking active participation for educating consumers their rights.
Long Answer TypeNeelabh is engaged in ‘Transport business’ and transports fruits and vegetables to different states. Stating the reason in support of your answer, identify the working capital requirements of Neelabh. Neelabh also wants to expand and diversify his transport business, explain any two factors that will affect his fixed capital requirements.
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