What is consumer exploitation and how consumers can be exploited?
Answers
Explanation:
A product or service is only worth the amount paid by the consumer if it derives consumer satisfaction. Due to lack of awareness about consumer rights, many consumers are exploited by misleading advertisements, deceptive billing practices, selling of defective goods, online frauds, hoarding, price discrimination, etc.
Answer:
The different forms of consumer exploitation are:
(i) Less weigh.
(ii) Defective goods.
(iii) Provide poor services.
(iv) Impure quality of products/goods.
(v) High prices: sellers usually charge a price higher than theprescribed retail price.
(vi) Duplicate Articles.
(vii) False or incomplete information, misleading consumers.
(viii) Lack of safety devices which cause harm to the consumers.
(ix) Adulteration: Mixing or substituting undesirable materials in food items etc.
(x) Unsatisfactory after sale service: supplies do not provide satisfactory behavior.
(xi) Large companies with huge wealth, power and reach can manipulate in the market.