Factors which cause exploitation of consumers are:
|(i) Limited Information: For a correct decision and choice about a product, a consumer needs full information 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 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.|
You need to login to perform this action.
You will be redirected in 3 sec