how can the consumer be protected to marketplace
Answers
Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. ... Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices in order to gain an advantage over competitors or to mislead consumers.
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.