Describe any five ways in which a consumer can be exploited
Answers
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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The following are the five ways in which a consumer can be exploited.
Explanation:
The following are the five ways in which a consumer can be exploited:
Substandard quality: The sellers used to sell their products such as medicines beyond the expiry date and defective home appliances etc. These are some of the activities by the traders in which they sell substandard quality goods.
Higher prices: The traders sometimes overcharge consumers and sell goods at higher prices than the retail price.
Duplicate Articles: The traders used to sell duplicate products at the same rate of original products.
Lack of knowledge: Sometimes the sellers do not give enough information about the product and the consumers have to buy the inferior quality products.
Lack of coordination: In the lack of coordination between the consumers, traders, manufacturers, and the government, the sellers used to fraud their consumers.
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Give five ways by which the consumers are exploited?
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