Question

Identify factors which encourage the traders to adopt unfair practices. How is consumer exploited.

Answer 1

There are many factors which encourage the traders to adopt unfair practices, some of which are because of government, this is when government place a big burden over a product , in other to escape such burden, unfair practices is mostly adopted by traders, unfair practices is also adopted by the traders especially when they are willing to make a big profit through there their trade. However, consumer are exploited most of the time because of there ignorant of the real price of a product, when a consumer is a kind of fatalism he would be exploit and when a buyer is more compromising, the seller tends to exploit. I hope this would surely help

Answer 2

Following are the factors that encourage the manufacturers and traders to adopt unfair practices:

1. There is a lack of a strong ruling administration that can prevent traders to adopt unfair practices.

2. The process of redressed is very time consuming, and expansive, therefore, the traders took ad-vantage of this situation.

3. Most of the consumers are uneducated and unaware. They may not know their rights and market prices of the product.  

Following are those ways through which the consumers are exploited:

1. Adulteration: the traders often mix undesirable materials in products that cause heavy loss of con-sumer's income and health.

2. under measurement: shopkeepers ordinarily under measures products and charge the actual value.

3. Black marketing: Primary commodities are hoarded by the merchants to build artificial deficit and sell them at a higher rate.