Question

When the seller manipulates the price, it is known as A) Caveat Emptor B) Unfair trade practices C) Restricted trade practices D) None of the above

Answer 1

Answer:

B) Unfair trade practices

Explanation:

Here in the above options

a) Doctrine of caveat emptor explains that a buyer need to be beware of any kind of patent defects that occur during a contract of sale.

b) Unfair trade practices are the one which are done by misleading customers with different quantities, prices etc...

c) These restricted trade practices are done to avoid barriers.

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Answer 2

• When the seller manipulates the price it is known as unfair trade practices.  
• It is also known as deceptive pricing.
• This is illegal according to the consumer protection act.  
• The seller increases the price of a product and misleads a customer by wrongly representing a good as a superior one with advanced quality to justify the increase in the price of the commodity.
• Caveat emptor means the buyer should be careful while purchasing a product and he should himself check the quality and suitability of the product before the purchase.  
• Restrictive trade practices are those practices which do not allow new firms to enter the market and compete with them.