“There is a need for rules and regulations to ensure protection for consumers”. Give any two examples to substantiate the statement.
Following are the reasons that rules and regulations are neededfor the protection of consumers in the marketplace.
(i) Adulteration causes heavy loss to the consumers, they suffer from monetary loss as well as it affects their health.
(ii) Sellers make false claim about the durability and quality of their products through attractive advertisements.
(iii) Individual consumers often find themselves in a weak position in the market when the seller tries to shift all the responsibilities on to the buyer in case of complaint.
(iv) Markets do not work in a fair manner when
producers are few and powerful, whereas consumers purchase in small amounts and are scattered.
(v) Many people who work in the unorganised sector have to work at a low wage and accept conditions that are not fair and are also harmful to their health.