Economics
Mention a few factors which cause exploitation of consumers.
Consumer Rights
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Answer
Factors which cause exploitation of consumers are:
- Lack of Information — When consumers are unaware of their rights, product information, or alternatives available in the market, they may make decisions that are not in their best interest.
- Advertising and Marketing Tactics — Misleading advertising, exaggerated claims, and manipulative marketing tactics can lead consumers to make purchasing decisions based on false or incomplete information.
- Unfair Contract Terms — Contracts and agreements often contain terms that are biased towards the business rather than the consumer.
- Sale of adulterated goods — Sale of sub-standard or goods that do not conform to the prescribed quality standards is done to cheat the consumers.
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