“Rules and regulations are required for the protection of the consumers in the market place.”

cbse
economics
consumer-rights
cbse-class-10
cbse-class-10-social

#1

“Rules and regulations are required for the protection of the consumers in the market place.” Justify the statement with arguments.

Answer:
Rules and regulations are required for the protection of the consumers in the market place.

  • Individual consumers often find themselves in a weak position whenever there is a complaint regarding a good or service that had been bought, the seller tries to shift all the responsibility on to the buyer.
  • Exploitation in the market place happens in various ways.
    For example, Sometimes the traders indulge in unfair trade practices such as - when shopkeepers weigh less than what they should or when traders add changes that were not mentioned before or when adulterated or defective goods are sold.
  • At times false information is passed on through media to attract consumers.