illustrate the factors responsible for exploitation of consumers
Answers
Following are the main measures to protect oneself from exploitation as consumer:
1. Consumer's Education consumer's education and awareness is the most important measure for the solution of exploitation. The government has made several laws for the protection of consumers. But it is observed that the laws are not known to general public. Therefore, proper education of consumer's right should be provided to consumers.
2. Purchase of standardized goods ; Several types of goods are available in the market. But for the safety against exploitation consumers should always buy standardized goods. Goods which are marked as ISI, AGMAEK and HALLMARK are considered standardized goods.
3. Taking cash memo and receipt : To take cash memo along with purchase of a good is very important. Due to taking cash memo the legal proceeding can be done in case of the quality of goods is inferior or does not work properly before the given period of time.
4. Not to be lured by advertisements : Big companies publicized their products by attractive advertisements through television or other media. The advertisements are shown in such a manner that it has a psychological effect on consumers and so consumers become desperate to purchase the goods. But the reality is this that consumer should be alert and aware of advertisements. Before the purchasing of goods the consumer should completely verify quality, price, and quantity etc of goods.
5. To complain collectively : A consumer alone cannot do anything against the producers and sellers, but if complaint is lodged collectively then it has more effect.
6. To verify the expiry date : Whenever we purchase a medicine, we always check the expiry date. After expiry date the medicine has no effect and there is also a possibility of bad effects of medicine. The similar is the case with tinned food. Therefore, it is essential to check the expiry date before purchase.
Answer:
The following factors are responsible for the consumer exploitation:
(i) Limited information - For a correct decision and choice about a product, a consumer needs full informationabout the price, quality, durability, composition, etc of the Product. In the absence of full and correct information, a consumer may get exploited.
(ii) Limited supplies- when the supply of goods is less than their demand, the prices may go high and may also encourage the tendency of hoarding. As a consequence, consumers will get exploited.
(iii) Limited competition-when there is limited competition with regard to production i.e., when producers are few and can control and restrict the supply of a product there is a possibility of manipulation in prices.
(iv) Low literacy-Illiteracy causes ignorance, which leads to exploitation of consumers. The level of awareness in our country is generally low