Forms of consumer exploitation and factors causing causing exploitation
Answers
Answer:
the factors causing consumer exploitation
Illiteracy and Ignorance of the Consumer: The majority of the population have less knowledge about the quality of a good and they are ignorant about it. ...
Fatalism of Consumer: Many consumers never analyze the quality of the good and the price. ...
Compromising Attitude: ...
Unrecorded Sales
Explanation:
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.