Choose the given statement is true/false:

The market does not work in a fair manner when producers are few and powerful and consumers purchase

in small amounts and are scattered.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
When there are few dominant producers but there are many dispersed consumers, the market does not function fairly. This specifically occurs when major businesses are generating things. The market may be manipulated by these powerful, wealthy firms in a variety of ways. False information is occasionally disseminated through the media and other channels in an effort to draw customers' attention. This practice affects the basic rights of the consumer. But, such unjust practices are carried out by companies to earn more profit and create more dominance in the market.

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