Question

Describe the condition in which markets do not work in a fair manner.​

Answer 1

HEY MATE,

The circumstances under which markets do not work in a fair manner are as following

1. Monopoly. When producers are few and powerful whereas consumers purchase in small amounts and are scattered, the producers can manipulate the market to make profits. This happens especially when large companies are producing these goods.  

2. False advertisement- At products are falsely advertised, their qualities exaggerated or outrageous claims to attract consumers.

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Answer 2

• As they cheat in weight of material.
• As they mix different things in food items..
• As they sell products more than mrp rate.
• They exploite the rights of buyer to choose products