economicsHow are consumers exploited in the marketplace?

How are consumers exploited in the marketplace?


  1. A
    By selling products at higher prices
  2. B
    By adulteration in products
  3. C
    Supply of defective products
  4. D
    All of the above 

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    Solution:

    Consumers are exploited in the marketplaces by getting adulterated and defective products as well as products at a high price.
    They generally participate in market activities by purchasing a final product or service as per their requirements. However, they are exploited in the marketplace because they do not insist on their consumer rights. As a consumer, we expect a certain value for our money and it is our right to demand the right quantity, right quality, information about the product, right prices, etc. However, they are frequently duped and harassed by sellers and manufacturers. There are many ways in which a consumer is exploited. A seller who sells products at higher prices or adulterates a product by providing the right quantity and sometimes supplying defective products.
     
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