Question

Assertion (A): Markets work in a fair manner.
Reason (R): Consumer awareness is needed to avoid exploitation in the marketplace.

• A. A is correct and R is the correct explanation of A.
• B. A is correct but R is not the correct explanation of A.
• C. A is correct but A contradicts R.
• D. A is incorrect and A contradicts R.

Answer 1

The correct option is D A is incorrect and A contradicts R.

Globalisation has increased the availability of a variety of products in the marketplace. Thus, unfair trade practices are bound to occur in the market. Consumers need to be well aware about consumer rights to avoid exploitation in the marketplace.