Answer:
The
circumstances under which markets do not work in a fair manner occur when
producers are few and powerful, whereas consumers purchase in small amounts and
are scattered. This happens especially when large companies are producing these
goods.
These companies with huge wealth, power and reach can manipulate the
market in various ways. At times false information is passed on through the
media and other sources to attract consumers. Rules and regulations to protect
consumers are needed to prevent this.
You need to login to perform this action.
You will be redirected in
3 sec
