Question

Explain any five ways in which consumers are exploited in the market.

Answer 1

1. False Advertising- making deceptive and misleading claims in the advertisements of the products.

2. Deceptive Pricing- Very often traders charge deceptive and high prices from their consumers than the prescribed retail price.

3. Deceptive Billing- It may sometimes happen that traders sell fake or duplicate goods in the name of genuine goods.

4. Misuse of Customer Data- The information or data collected by the customers at the time of sale can be misused.

5.Substandard quality The traders may cheat the consumers by degrading the quality of the product and selling those in the market like expired products, defective items.