Question

Mention any two ways of exploitation of consumers in the market.

Answer 1

In the current scenario, the telecom industry is charging higher rates for the recharge the mobile. They are offering only unlimited packs and also consumer forced to buy mobile offer acquiring sim card, therefore, consumers are only allowed to choose what they offer.

Another instance is that gas dealer forces the consumer that he has to buy the stove for buying the gas. Then consumer is said to be denied for the right to choose

Answer 2

Consumer exploitation

Explanation:

Consumers who purchase commodities can be exploited by the sellers in several ways like:

1. Hoarding - manipulate pricing by creating false scarcity
2. Adulteration - mixing or substituting the identical and undesirable materials in the food items.
3. Under measurement - pack lesser quantity than the weight mentioned on the package.
4. Substandard goods - provide inferior quality for the same price and not getting governmental standards approval like ISI.