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