Question

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

Answer 1

markets do not work in a fair manner when producers are few and powerful, whereas consumers purchase in small amounts and are scattered.This happens especially when large companies are producing these goods .these companies with huge power,wealth and reach can manipulate the market in various ways.
often the shopkeepers use unfair means such as-
adulteration
undermeasurement
high price
substandard products