Question

Explain few factors which cause exploitation of consumers

Answer 1

Answer:

Mention a few factors which cause exploitation of consumers

Explanation:

a. Limited competition leading to consumers being forced to buy a certain product b. Limited supply of goods products or services leading to shortages and black marketing .

Answer 2

Answer:

Factors which cause exploitation of consumers are :

Lack of awareness of consumer rights among buyers.

Improper and inadequate monitoring of rules and regulations. There is no fixed law for quality and rate

Misleading advertising in the media.

Consumers are scattered over large areas.

The main reason for exploitation of consumers is the lack of knowledge. Several consumers do not have the knowledge about the price, quality, services related commodities.