Question

Are these the example of consumer exploitation taking in the market? Justify your opinion in each case.
a. Hoarding
b. Black marketing
c. Adulteration

Answer 1

Answer:

Yes, these are the examples of consumer exploitation.

The term "hoarding" may include the practice of obtaining and holding resources to reduce the supply, to increase the price, so that they can be sold to consumers for profit.

b. The black market is the strategy used by the seller to sell the commodity in higher price by creating the artificial scarcity.

c. It is the process of mixing and substituting the identical and undesirable materials in the food items. This will cause heavy loss to the consumers and also leads to many diseases while consuming undesirable commodities.