Q. 285.0( 2 Votes )

How do the large

Answer :

Large companies with huge wealth, power and reach often manipulate the markets by establishing their monopoly.

1. Exploitation in the marketplace happens in various ways. For example- traders, sometimes, indulge in unfair practices such as when shopkeepers weigh less than what they should or when traders add charges that were not mentioned before.


2. Hoarding, black marketing, adulteration of food especially in case of edible oils is rampant.


3. The selling of goods with poor quality and standards is a very common malpractice which shopkeepers indulge in, just to clear their stocks. For example- selling of expired medicines.


4. Many times, false information is passed on through the media, and other sources to attract consumers. For example- a company for years sold powder milk for babies all over the world, describing it, as the most scientific product and claiming it to be even better than the mother’s milk. It took years of struggle before the company was eventually forced to accept that it had been making false claims.


5. In another instance, a long battle had to be fought with court cases to make cigarette- manufacturing companies accept that their product caused cancer.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses