Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Guy has an income (Y) of $50 with which he can purchase DVDs (D) at $10 each and haircuts (H) at $20 each. Which one of the following represents Guy ’s budget line? A) 50 = 10QD + 20Q H B) 50 = QD + QH C) 20Y = QD + 10Q H D) Y = 10QD - 20Q H E) Y = 50 + QD + QH 1) 2) David has an income of $30 to buy movie tickets and bus tickets.
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compensation and the complainant also entitled to get Rs. 5000/- for irresponsible act of the respondent. 14. That this Hon’ble Forum under the Consumer Protection Act has jurisdiction to try and entertain the present complaint. PRAYER In view of the above submissions‚ it is most respectfully prayed that the Hon’ble Forum may graciously be pleased to direct the respondent: I. To issue
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Elasticity is a measure of how much buyers and sellers respond to changes in market conditions. There are 3 types of elasticity of demand‚ which are price elasticity of demand‚ income elasticity of demand and cross elasticity of demand. In general‚ elasticity of demand is important for a firm in price setting for its products. Price elasticity of demand is the percentage change in quantity demanded given a percent change in the price. It is a measure of how much the quantity demanded of a good
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Mrs Tran as to whether Studmaster Pty Ltd has breached the Competition and Consumer Act 2010 (previously referred to as Trade Practices Act 1974 (Cth)) and if so‚ her available remedies. Issue: Were the statements misleading or deceptive in breach of the Australian Consumer Law? Law: • Section 18‚ Schedule 2 to the Competition and Consumer Act 2010 (Cth) (or alternatively you can say Section 18 Australian Consumer Law which is the title for Schedule 2) • Section 4 (“presumption of
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6.2 Consumers Turn Right-Work File Use the information found on the 6.2 Activity page to find the answers to the questions below. Fill in the blank with the appropriate consumer right. 1. The right to saftey means consumers will be protected from products that are dangerous. 2. The right to choose means consumers have the right to make their own choices. 3. The right to be heard means consumers can speak out when they want to be heard and have a voice in making laws. 4. The right
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GUARANTEE ON CONSUMER DECISION MAKING TOWARDS LUXURY HOTEL SECTORS IN ACCORDANCE TO MALAYSIAN CONSUMER PROTECTION ACT 1999 (CPA) by Pradeep Paraman ABSTRACT A service guarantee is a promise that a service or product will meet certain consumer expecta-
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The History of the Consumer Movement and Consumerism Michael J Jackson Grantham University The History of the Consumer Movement and Consumerism Consumerism as defined by the dictionary is a modern movement for the protection of the consumer against useless‚ inferior‚ or dangerous products‚ misleading advertising‚ unfair pricing. Ralph Nader is probably credited as one of the first activist that took consumer rights and the whole consumerism movement to the next level. Nader first came
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Discuss the extent to which Consumer law achieves its objectives. The most efficient way for consumers to get what they want is through the ‘market’‚ not the government‚ but businesses have more power than their customers. Some businesses can and will use abuse this power and cheat and steal from consumers to make money. Because of this‚ the government regulates the behaviour of businesses to have a market economy that functions properly. These laws mainly protect consumers against; misleading/deceptive
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ANALYSIS OF CONSUMER PROTECTION LAWS IN PAKISTAN The consumers are being oppressed due to unawareness of their fundamental rights as well as they are ignorant about the potential of available legal remedies. The situation is more pathetic due to the apparent absence of a systematized consumer movement in Pakistan. To furnish the consumer forums with appropriate enforcement and paraphernalia for consumer protection in all consumer related matters from food and health to pecuniary contracts and
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Sustainable Consumption: The Responsibility of Consumers and Producers The fact that the world is now facing massive population growth and overconsumption has made the threat of scarcity becomes never more real than before. The pressure to maintain sustainable consumption is echoing everywhere. This suggests the need for active involvement from the demand side of the market in safeguarding sustainability‚ through sustainable consumption. Attempting to align the understanding about sustainable consumption
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