question_answer

How are consumers exploited in the market place? Explain.

Answer:

People may be exploited in the market in the following ways:

(i) Adulteration: Sometimes traders add  charges that were not mentioned before.

(ii) Under weighing: Many dishonest shopkeepers weight less than what they should.

(iii) Artificial scarcity: Traders sometimes tend to create artificial scarcity of a particular good by hoarding it to increase the price and earn higher profits