Question

Explain any five ways of exploitation of consumers in a market.

Answer 1

1. One method of taking advantage of consumers.is underweight and undermeasured. Market products are occasionally sold without being measured. weighted accurately, resulting in consumer exploitation by producers or traders. After paying the price for the stipulated quantity of the commodity, consumers receive less quantity.
2. Another approach to take advantage of consumers is to sell low-quality goods. The sale of consumables after their expiration dates, as well as the delivery of inadequate or damaged household appliances.are commonly expressed consumer complaints. This includes the sale of medicines after their expiration date as well as the sale of counterfeit or substandard drugs.
3. Charging exorbitant prices and selling duplicate items are some methods of exploiting Indian shoppers. Traders frequently demand a greater price than the permitted retail price, and under the guise of authentic parts for goods, fraudulent or counterfeit items are offered to consumers. According to a study, many shoppers who purchased internet products on the occasion of Deepawali 2018 complained about receiving counterfeit brands.
4. Most consumers are taken advantage of by bidden price components. Many companies make offers that invite consumers to buy products at very low prices, or they make exchange offers or offers like buy one get one, which is good enough to pique the interest of innocent consumers but has some or other hidden price component attached to it, which the consumer is forced to fulfil and he is cheated.
5. Adulteration of impurities or cheap products is made in expensive consumable things such as oil, ghee, and spices in order to gain more profits. Consumers face significant financial and health consequences as a result of food adulteration.