Question

Mention any three factors which cause exploitation of consumer in market

Answer 1

Consumer exploitation refers to the act of taking advantage of buyers. ... Consumers are entitled to a certain value for their money, including right quality, right quantity, right prices and right information about the product. However, many market giants exploit consumers with malpractices of varying magnitude

thank you

Answer 2

Answer:

Factors which cause exploitation of consumers are :

Lack of awareness of consumer rights among buyers.

Improper and inadequate monitoring of rules and regulations. There is no fixed law for quality and rate

Misleading advertising in the media.

Consumers are scattered over large areas.

The main reason for exploitation of consumers is the lack of knowledge. Several consumers do not have the knowledge about the price, quality, services related commodities.