A
Limited information
B
Wrong information
C
Illiteracy and ignorance of the consumers
D
All of these
Solution:
Factors causing consumer exploitation are Limited information, Wrong information, Illiteracy and ignorance of the consumers. Consumer exploitation is the term used to describe when sellers take unfair advantage of individual customers or a group of customers for their gain or purposes. The following are some of the leading causes of consumer exploitation: Due to a lack of information regarding various product characteristics, such as price, quality, composition, conditions of use, etc., consumers risk selecting the wrong product and incurring a financial loss. Not giving accurate and complete information is a consumer risk of being taken advantage of. Consumer illiteracy and ignorance: The illiteracy rate is very high in most developing and underdeveloped economies, and producers can easily con their customers. The underdevelopment of the industrial sector causes a lack of supply. As a result, prices increase, and hoarding occurs.
