Question

Do markets promote equality ?

Answer 1

Dear Student,

1. Markets do no promote equality, rather inequality is reflected in the entire market system.
2, Income disparities are visible amongst the consumers, there are some who buy big brands and shop from malls, while others can't afford even cheap products
3. Inequality and exploitation is also witnessed in the entire chain of market, where the local producer is also deprived of his share. Here again, a factory worker , weavers are not in a position to gain,
4. Weavers sell cloth to the merchants, here again merchants make the maximum profits.
5, There are a lot of middlemen involved that is the merchants or traders who end up making their share of profits and in turn give very little to the weavers.Merchants sell cloth at a higher price.
6. Workers in a garment factory are compelled to work with low wages for long hours.
7. In this entire chain of production, the poor are dependent on the rich and powerful.
8. It is the powerful and the rich that is the big business houses, foreign buyers who make the maximum amount of profit. The big business houses are in an advantage and accrue maximum profits.
9 Further. . Commercial advertisements surely benefit big business houses and brands who are in a position to spend a lot on advertising, in giving offers , in making their advertisements more attractive.
10. Small companies/shops with medium budget are at a loss, because they are not in a position to advertise their products or bear its costs.
l1. They are deprived of fair share/price.

Regards