Statement 1 is not correct -: The Consumer Protection Act, 2019 established the Central Consumer Protection Authority (CCPA) as a statutory body (not a constitutional body). Statement 2 is correct -:The new pecuniary jurisdiction, subject to other provisions of the Act, shall be as under: District Commissions shall have jurisdiction to entertain complaints where the value of the goods or services paid as consideration does not exceed 50 lakh rupees. State Commissions shall have jurisdiction to entertain complaints where value of the goods or services paid as consideration exceeds 50 lakh rupees but does not exceed 2 crore rupees. The National Commission shall have jurisdiction to entertain complaints where value of the goods or services paid as consideration exceeds 2 crore rupees. Statement 3 is correct -: The Ministry of Consumer Affairs, Food, and Public Distribution notified and made effective the provisions of the Consumer Protection (E-Commerce) Rules, 2020 under the Consumer Protection Act, 2019.
If the price elasticity of demand for apples is 3, then what will be the impact on total revenue if price increases?
A country is said to be in debt trap if
Suppose the following bilateral spot exchange rates are being quoted for the Danish krone (DKK), the US dollar (US$) and the euro (€):
US$/&...
For which preferences the income offer curve and the price offer curve are equal?
An indirect utility function
If factor cost is greater than Market price, then it means that:
From the following data, find National income.