PERA Exams; One Liner MCQs from Price Control Act

Price Control and Prevention of Profiteering and Hoarding Act, 1977

1. The Act was enacted in the year?  1977
2. The main purpose of the Act is?  Control of prices and prevention of hoarding
3. Who has the power to fix the maximum price of essential commodities?  Federal Government
4. The Act prohibits hoarding of?  Essential commodities
5. Hoarding means?  Storing goods to create artificial shortage
6. Profiteering refers to?  Charging higher than fixed price
7. The Act empowers which officers to inspect premises?  Price Control Inspectors
8. Penalty for violation of fixed prices includes?  Imprisonment or fine
9. The Act extends to?  Whole of Pakistan
10. Essential commodities are notified by?  Government
11. The Act is designed to protect?  Consumers
12. Who can seize hoarded goods?  Authorized Officer
13. Profiteering is defined under section?  Section 3
14. Penalty for hoarding may include?  Confiscation of goods
15. Price list must be displayed by?  Shopkeepers
16. Failure to display price list leads to?  Punishment
17. The Act prevents exploitation of?  General public
18. Essential commodities include?  Food, fuel, medicines, etc.
19. An offence under this Act is?  Cognizable
20. Trial of offences is conducted by?  Special Magistrates
21. Price Control Inspectors are appointed by?  Government
22. The purpose of price fixation is?  Fair supply at reasonable rates
23. Any person selling above fixed price is guilty of?  Profiteering
24. Hoarding of goods causes?  Artificial scarcity
25. Penalty may extend to imprisonment of?  3 years
26. Fine under this Act may extend to?  Rs. 50,000 (or as notified)
27. Who may notify essential commodities?  Federal Government
28. Shops must issue?  Cash memos
29. Inspectors can?  Enter and search premises
30. Goods seized are produced before?  Court
31. Seized goods may be?  Auctioned
32. Profiteering directly harms?  Consumers
33. Hoarding is checked to maintain?  Supply balance
34. Act empowers Government to fix?  Maximum prices
35. Any violation leads to?  Criminal liability
36. Offences under this Act are tried in?  Summary trial
37. This Act primarily deals with?  Market regulation
38. Objective of the Act is to curb?  Unfair trade practices
39. Hoarding means withholding goods from?  Market
40. Inspectors must show?  Authority card
41. Price control is necessary in?  Public interest
42. Confiscated goods are disposed of by?  Court order
43. Preventive action can be taken against?  Hoarders
44. The Act is meant to prevent?  Black marketing
45. Fine can be imposed by?  Court
46. For repeat offenders, punishment is?  Enhanced
47. Price Control Inspectors can take?  Samples of goods
48. Who maintains price stability?  Government
49. Goods once seized are under custody of? Court
50. The Act ensures?  Availability of essentials at fair price
51. Act applies to?  Individuals and companies
52. This law was passed during?  General Zia-ul-Haq’s regime
53. Maximum imprisonment under the Act?  3 years
54. The offence of profiteering affects?  Public economy
55. Complaints under this Act may be lodged by?  Consumers or Inspectors
56. Price fixation prevents?  Unjust enrichment
57. Inspectors are considered as?  Public servants
58. Essential commodities vary according to?  Government notification
59. The law discourages?  Unethical traders
60. Main theme of the Act is?  Fair trade and consumer protection.

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