Describe conditions in which markets do not work in fair manner
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markets do not work in a fair manner when priducers are few and powrful. They oppress the consumers that r scatterd and buy in less quality.These producers with their huge wealth,power and reach manipulate the market.
Answered by
37
Markets are not fair when there are few producers. Few producers limit the variety of products in the market and being powerful can collude to develop high price products of low quality.
Markets are not fair when consumers are scattered and purchase in small units. If it were possible for them to be in a single location and buy in large quantities they would be powerful and influence the producers to produce better quality products
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