How are consumers exploited in the marketplace detailed?
Answers
Answer:
Consumers are being exploited in the following manner: Sale of adulterated goods, i.e. adding something inferior to the product being sold. Misleading advertisements, i.e. advertisements falsely claiming a product or service to be of superior quality, grade or standard.
Answer:
Rules and regulations are required for the protection of the consumers in the marketplace.
Exploitation in the marketplace happens often.
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 wealth, power and reach can manipulate the market. At times, false information is passed on through the media, and other sources to attract consumers.