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Questions
Mention a few factors which cause exploitation of consumers.
Mention two factors which cause exploitation of consumers.
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Solution 1
Exploitation of consumers is caused by a variety of factors. Producers are always looking for easy ways to increase profits. Adulterated or low-quality goods have fewer production costs, and if the consumer is unaware or illiterate, it is easy to cheat him/her. Also, shopkeepers brush off their responsibility by claiming that the manufacturer is to blame. Consumers feel helpless in this situation. Often, when the consumers are known not to check the retail price of a commodity on its packing, sellers add extra charges to the same. In places where there is no awareness of consumer rights and the COPRA, consumer exploitation is rampant.
Solution 2
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Lack of Information: Consumers do not receive full and accurate details about products, such as price, quality, and usage, leading to incorrect decisions and monetary loss.
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Limited Supplies: When goods and services are scarce due to lower production, hoarding, and price rises exploit consumers.
