Personal Finance and Consumer Studies — DU B.Sc. (Hons.) Home Science Previous Year Question Papers

1. Family income consists not only of cash earnings but also of other resources available to the family. Justify this statement by explaining the different components of family income. (18) 2. 'Family savings should be invested in a manner that ensures both safety of money and reasonable returns.' Discuss the key principles of safe and sound investment with suitable examples. (18) 4. Consumers encounter different issues when buying goods from the marketplace. Describe these problems and suggest suitable remedies to deal with them. (18) 5. (a) Explain the different rights of consumers in India that help safeguard them against unfair trade practices and exploitation. (b) Discuss the Consumer Protection Act as the principal consumer protection legislation in India, highlighting its major amendments, key features, and the key distinctions introduced through the latest amendments. (6, 12) 6. Discuss the role played by voluntary consumer organizations in promoting consumer awareness and protecting consumers from exploitation. Explain their key functions and activities. (18) 7. Elaborate upon the role played by standardization marks in quality assurance, consumer protection, and maintaining consistency in product quality. Highlight the role of AGMARK and Hallmark in ensuring product standards. (8,10) 8. Write short notes on any three of the following: a) 4C's of Credit b) Household record-keeping methods c) E-business d) Importance of budget-making e) 'Public interest Litigation' as alternate dispute redressal mechanism (6,6,6)