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Question

Mention a few factors which cause exploitation of consumers ?

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Studies muskan 2 weeks 1 Answer 13 views Silver 0

Answer ( 1 )

  1. Few factors which cause exploitation of consumers are as mentioned below:
    1. Individual consumers often find themselves in a week position whenever there is a complaint regarding a good or service that had been bought, the seller tries to shift to all the responsibility on the buyers.
    2. Consumers purchase in small amounts and scattered. They do not bother about products of small value even if they are cheated.
    3. Consumers do not take receipts for products of small value. Sometimes the shopkeepers too don’t give reciept for products of small value dur to rush of customers as they don’t find time to issue receipts to each and every customer.
    4. Limited supplies : Limited supplies of goods and services are made to exploit the consumers who are compelled to pay more than the actual price.
    5 limited competition: when one or a group of producers control the production of any product the exploit the consumers by manipulating the prices for example in the housing sector where the Producers and Consumers are few the selos exploit the consumers
    6 Low litreacy: illiteracy to lead to exploitation of the consumers because they are unable to have complete knowledge about the products
    7. Life of the people is so busy that they do not find time for such matters fullstop people have become habitual and exploitation by traders does not make any difference in their lives unless they suffer a substantial loss

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