What are the factors responsible for the consumer exploitation ?
Ans.
about the price, quality, durability, composition, etc of the Product. In the absence of full and correct
information, a consumer may get exploited.
(ii) Limited supplies- when the supply of goods is less than their demand, the prices may go high and may also
encourage the tendency of hoarding. As a consequence, consumers will get exploited.
(iii) Limited competition-when there is limited competition with regard to production i.e., when producers are
few and can control and restrict the supply of a product there is a possibility of manipulation in prices.
(iv) Low literacy-Illiteracy causes ignorance, which leads to exploitation of consumers. The level of awareness
in our country is generally low.
The following factors are responsible for the consumer exploitation:
(i) Limited information - For a correct decision and choice about a product, a consumer needs full informationabout the price, quality, durability, composition, etc of the Product. In the absence of full and correct
information, a consumer may get exploited.
(ii) Limited supplies- when the supply of goods is less than their demand, the prices may go high and may also
encourage the tendency of hoarding. As a consequence, consumers will get exploited.
(iii) Limited competition-when there is limited competition with regard to production i.e., when producers are
few and can control and restrict the supply of a product there is a possibility of manipulation in prices.
(iv) Low literacy-Illiteracy causes ignorance, which leads to exploitation of consumers. The level of awareness
in our country is generally low.
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