Q. 14.9( 8 Votes )

What are the various ways by which people may be exploited in the market?

Answer :

There are many ways by which consumers are exploited. A few of them are:


A. Selling at higher prices -- The price charged for the product will not be proportionate to the quality;


B. Product risk -- Drugs that are hazardous, banned or beyond expiry date, electrical appliances with inadequate safety precautions, etc;


C. Adulteration -- This is very common in food items and could prove to be highly injurious to one's health;


D. Sub-standard Products -- Items whose quality is far below the required standard;


E. False Claims -- Manufacturers make false representations about their products in the media with a view to mislead the consumers. Claiming that use of a particular oil will cure baldness, using a company's fairness cream for a specific period will make one fair, etc., are all typical examples of exaggerated, misleading advertisements; and


F. Warranty/Annual Maintenance Contract -- In many cases, though the product will have a warranty or will be under annual maintenance contract (AMC), when a problem arises, the consumer is told that certain parts will not be covered and they will have to pay.


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