Question

Describe 5 ways in which a consumer can be exploited.

Answer 1

1. High Prices

Very often traders charge high prices from their consumers than the prescribed retail price.

2. Fake goods

It may sometimes happen that traders sell fake or duplicate goods in the name of genuine goods.

3. Substandard quality

The traders may cheat the consumers by degrading the quality of the product and selling those in the market like expired products, defective items.

4. Underweight and Under-measurements

The weight of the product that is being old may not be weighted correctly.

5. Impure and adulterated food items

Edible items like oil, ghee, and spices adulteration is made in order to earn higher profits. It causes huge damage to the consumers both financially and physically spoiling their health.

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Answer 2

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Describe 5 ways in which a consumer can be exploited.

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Factors causing exploitation of consumers :

● Limited information : Consumer are quite ignorant of their rights and duties .

● Limited supply : In case of supply of goods is less than demand , prices go high . The traders take advantage of the situation .They begin to hoard those items . This leads to the exploitation of the consumers .

● Low literacy or awareness : Consumers usually lack the knowledge to judge different kinds of things. Adulterated or low- quality goods have less production cost , and if the consumer is unaware or illiterate, it is easy to cheat him or her . Often , when the consumers do not check the retail price of a commodity on its packing, sellers add extra charges to the same .In places where there is no Awareness of consumers right and the COPRA, consumer exploitation is uncontrolled. Also shopkeepers brush off their responsibility by claiming that the manufacturer is to blame .Consumers feel helpless in the situation .

● Limited competetion : Market do not work in a fair manner when producers are few and powerful whereas consumers purchase in a small amount and are scattered . This happens when large companies are producing these goods .This company with huge wealth and power can mannpulate the market in various ways. This also leads to the exploitation of the consumers.