How consumers are exploited in marketplace .Explain with example 0?
Answers
Some of the examples are as follows:
◆When traders indulge in unfair trade practices such as when shopkeepers weigh or measure less than what they should. This is usually in materials sold loose like rice, flour, milk, etc.
◆ When traders add charges that were not mentioned before, like handling charges, packing charges, etc.
◆When adulterated/defective goods or expired medicines are sold.
Answer:
Consumers are explotied in the market in the number of ways are
1) under weight and under measurement- Sometimes the goods produced in the market are not properly measured or weighed. So sellers give these goods to the consumers less than weight or measurement to get more profit. This lead to financial loss to the consumers
2)Duplicate articles- In the names of branded product fake or duplicate articles of low quality are sold in the market. Duplicate items will not last long in the market because these are not manufactured according to the government specifications.
3) False information - Sometimes sellers mislead the consumers by giving the wrong information about the product such as its price, quality, expiry date, side effects on health and date of manufacture etc.
4) Artificial scarcity - Sometimes sellers create the artificial scarcity by hoarding the goods so that they can sell it later at high prices.
5) whenever the complaint regarding the good or service is made then sellers try to shift all the responsibility on to the buyers.
Explanation:
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