in a cinema house house full board is hanging while cinema tickets are freely avilable at higher price in the black market how consumers are exploited explain
Answers
Explanation:
The factors which cause exploitation of consumers in the market place are: Limited information. For taking a correct decision and choice about a product a consumer needs full information about the price quality durability composition date of manufacture and expiry ingredients etc. In the absence of full information a consumer may get exploited in an easy wayLimited competition. When there is a limited competition with regard to production i.e. when producers are few and can control and restrict the supply of a product there is possibility of manipulation of prices. Limited supply. When supply of a good is less than its demand the prices may go up and encourage the tendency of hoarding. As a result the consumer may be exploited. Adulteration. It means mixing or substituting undesirable materials in the food. It causes a heavy loss to the consumers both monetary and healthwise. Hoarding and black-marketing. Traders hold the stock of essential commodities to create artificial scarcity in the market so that they can sell the commodities at higher prices.Under measurement. Traders usually indulge in malpractices like giving under measured goods and charge for the actual quantity. Sub-standard goods. In the name of genuine parts or goods sub-standard or inferior goods are sold in the market. For example duplicate medicines can be injurious to the health of a person. Defective electrical items without safety measures can be fatal for the user.
Answer:
if cinema house full board is hanging back your work