Question

Neeru has severe allergy reactions and the medications for its cure charge exorbitantly high price as there is a lack of generic alternatives, leading to a situation where consumers have no choice but to pay the inflated prices to receive necessary treatment. What has happened in this case?

Options

• Consumer exploitation

• Consumer protection

• Consumer awareness

• Consumer rights

Answer 1

Consumer exploitation

Explanation:

Forcing buyers to pay exorbitant prices due to a lack of alternatives constitutes overcharging that harms consumers’ interests and is a classic example of consumer exploitation.