Question

Consumer awareness is essential to avoid exploitation in the narket . Justify this statement

Answer 1

consumer awareness is essential to avoid the exploitation of consumers in the market due to the following reasons:
1) consumers should be aware enough to discriminate and make informed choices.
2) prevention is better than cure. an educated consumer can fight for his rights.
3) an educated consumer becomes a rationale consumer.
4) an educated consumer knows well how to study the market.
5) he knows how to spend money so that satisfaction could be derived
6) he knows his rights and duties mentioned under consumer protection act 1986.