Mention a few factors which cause exploitation of consumers.
The factors which cause exploitation of consumers are :-
(i) Illiteracy and ignorance consumers,
(ii) Fatalism of consumers,
(iii) Compromising attitude,
(iv) Un recorded sales,
(v) Non- standard product and
(vi) Dishonest manufactures and sellers.
Markets do not work in a fair manner when producers are few and powerful, and consumers are scattered and purchase in small amounts. These producers with huge wealth, power and reach can manipulate the market in various ways. False information is passed on through the media, and other sources to attract consumers. These factors also
cause exploitation of consumers
Why are rules and regulations required in the marketplace? Illustrate with a few examples.
Describe some of your duties as consumers if you visit a shopping complex in your locality.
Suppose you buy a bottle of honey and a biscuit packet. Which logo or mark you will have to look for and why?
Say True or False.
(i) COPRA applies only to goods.
(ii) India is one of the many countries in the world which has exclusive courts for consumer redressal.
(iii) When a consumer feels that he has been exploited, he must file a case in the District Consumer Court.
(iv) It is worthwhile to move to consumer courts only if the damages incurred are of high value.
(v) Hallmark is the certification maintained for standardisation of jewellry.
(vi) The consumer redressal process is very simple and quick.
(vii) A consumer has the right to get compensation depending on the degree of the damage.
Suppose you buy a bottle of honey and a biscuit packet. Which logo or mark you will have to look for and why?
What are the difficulties a consumer faces when he wants to seek redressal against unfair trade practices and exploitatio
Why are rules and regulations required in the marketplace? Illustrate with a few examples .