Question

Why rules and regulations are needed for the protection of the consumers in the market place?

Answer 1

The rules and regulations are required for the protection of the consumers in market for the following reason.

1.To check adultrations:- at times greedy traders try to play with the health of consumers by indulging in adultration of edible oils, milk, butter etc.

2.To check powerful producer:- markets do not work in a fair manner if their is monopoly of few and powerful producers and when purchase of consumer is small and they have no single voice. so there is need of rules and regulations in the market.

3.False information:- most of the time false information is passed to consumers through media and other sources to attract the consumers.

hope it is helpful........