Describe the conditions in which, market do not work in a fair manner

CBSE Class 10 CBSE Class 10 Social Science
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1

Describe the conditions in which, market do not work in a fair manner.

2

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.