What is the consumer in marketplace
Answers
Answer:
The consumer market pertains to buyers who purchase goods and services for consumption rather than resale. However, not all consumers are alike in their tastes, preferences and buying habits due to different characteristics that can distinguish certain consumers from others.
Answer:
Rules and regulations are required for the protection of the consumers in the marketplace.
Exploitation in the marketplace happens often.
Markets do not work in a fair manner when producers are few and powerful whereas consumers purchase in small amounts and are scattered. This happens especially when large companies are producing these goods. These companies with huge wealth, power and reach can manipulate the market. At times, false information is passed on through the media, and other sources to attract consumers.