Describe the conditions in which, market do not work in a fair manner.
MARKETS do not work in a fair manner when:
- Producers are few and powerful.
- Consumers purchase in small amounts.
- Consumers are in large number and they are also scattered.
- Large companies are producing these goods. These companies with huge wealth, power and reach can manipulate the market in various ways.
- False information is passed on through the media and other sources to attract consumers.