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in Economics by (77.6k points)

Describe the conditions in which markets do not work in a fair manner.

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Markets do not work in a fair manner when producers are few and powerful whereas consumers purchase in small amounts and are scattered. This happens especially when large companies are producing these goods. These companies with huge wealth, power and reach can manipulate the market in various ways. At times false information is passed on through the media and other sources to attract consumers.

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