The correct option is 1 and 3 only.
Explanation
The 'Right to Choice' is a fundamental consumer right that assures access to a variety of goods and services at competitive prices. It is grounded in the principle of consumer sovereignty, ensuring that the market responds to the preferences of the buyer rather than the dictates of the seller.
Statement-wise Analysis:
- Statement 1 is Correct. The Right to Choice explicitly allows consumers to select from different brands, qualities, and types of the same product. It ensures that consumers have options regarding price and quality to suit their specific needs.
- Statement 2 is Incorrect. The Right to Choice is antithetical to monopolistic practices. Monopolies restrict choice by controlling supply and prices. This right is intended to prevent such dominance and ensure fair competition, thereby disempowering monopolies from dictating terms.
- Statement 3 is Correct. Consumer rights are applicable regardless of the terms of payment. A consumer is defined as a person who buys goods for consideration which has been paid, promised, or is under any system of deferred payment (installments). Therefore, the Right to Choice remains valid in installment-based purchases.
Key Takeaway:
The Right to Choice guarantees access to a variety of products at competitive prices and protects consumers against monopolistic market structures, irrespective of whether the payment is immediate or deferred.