Question

ᴡʜy ᴀʀᴇ ʀᴜʟᴇꜱ ᴀɴᴅ ʀᴇɢᴜʟᴀᴛɪᴏɴꜱ ʀᴇqᴜɪʀᴇᴅ ɪɴ ᴛʜᴇ ᴍᴀʀᴋᴇᴛᴩʟᴀᴄᴇ?

❎ɴᴏ ᴄᴏᴩɪᴇꜱ❎

Answer 1

Rules and regulations are required in the marketplace to protect the consumers against exploitation by the producers, sellers and service providers. They often indulge in unfair trade practices and provide false information about a particular service or product. Most of consumers are unaware about their rights and they are often deceived by the suppliers. So in the interest of the consumer, it is necessary to take action against suppliers and producers.

Answer 2

Explanation:

Rules and regulations are required in the marketplace to protect consumers.

• Sellers often abdicate responsibility for a low-quality product, cheat in weighing out goods.

• add extra charges over the retail price, and sell adulterated/ defective goods.