How consumers are exploited in the market place?
Answers
Answer:
1. Large companies with huge wealth, power and reach often manipulate the markets by establishing their monopoly (The single producer of a particular product in the market). Providing with false information, they try to indulge in unethical and corrupt practices.
2. Exploitation in the marketplace happens in various ways. For example-traders, sometimes, indulge in unfair practices - shopkeepers weigh less than what they should or traders add charges, not mentioned before.
Exploitation in the marketplace happens in various ways. Some examples are
(i) 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.
(ii) When traders add charges that were not mentioned before, like handling charges, packing charges, etc.
(iii) When adulterated/defective goods or expired medicines are sold.
I hope this will be helpful for you.