Question

Rules and regulations are required for the protection of the consumers in the market place. Justify the statement with arguments

Answer 1

 ”Rules and regulations are required for the protection of the consumers in the market place."

(a) Individual consumers often find themselves in a weak position , whenever there is a complaint regarding a good or service that had been bought, the seller tries to shift all the responsibility on to the buyer.

(b) Exploitation in the market place happens in various ways. For eg: sometimes the traders indulge in unfair trade practices such as : when shopkeepers weigh less than what they should or when traders add charges that were not mentioned before.