How does exploitation of consumers take place in the market? Explain with any five facts.
EXPLOITATION of consumers take place in the markets in the following ways:
- Underweight and under measurement: Sometimes traders indulge in unfair trade practices. They weigh less than what they should. Sometimes they do not measure correctly.
- High Prices: Sometimes, shopkeeper charge a higher price than the prescribed retail price.
- Defective goods are also sold in the market.
- Duplicate articles: In the name of genuine goods duplicate items sold in the market freely and frequently.
- Adulteration and Impurity: Edible items such as oil, Ghee, spices etc are the common item of adulteration. They cause heavy loss to the consumers. They suffer from monetary loss as well as their health damage.
- Lack of safety devices.
- False information: Sometimes false information is passed on through the media and other sources to attract consumers. Sellers also mislead consumers by giving wrong information about a product, its price, quality, reliability life-cycle, expiry date, durability, its effects etc.