0 votes
in Economics by (51.1k points)
closed by

(a) Explain any five ways in which consumers are exploited in the market.

(b) Briefly trace the growth of consumer awareness in India.

1 Answer

+1 vote
by (43.2k points)
selected by
Best answer

(a) Five ways in which consumers ate exploited in the market: 

1. Changing over maximum retail price [MRPs]. 

2. Supply of products injurious to health. 

3. Misleading advertisements. 

4. Under weights and false measures. 

5. Incomplete information on packaged goods, etc. 

(b) Consumers must unite themselves to overcome threats posed by business firms. The voices of consumers speak louder than the voice of a consumer about 500 consumer associations, are working in the field of consumer protection. 

Some of them are: Consumer Guidance Society of India, Mumbai, and Common Cause, New Delhi. These consumer associations reflect the growth of consumer awareness in India. Many non Government organizations are stepping forward to give protection to consumers and to make them aware of their rights. For legal redressal under consumer protection act, a consumer must be aware ofthe provisions of the consumer protection act. The Consumer Protection Act, 1986 has established a three-tier judicial machinery for redressal of consumer disputes. Various rights have been given to consumer, so that they become aware and avail them.

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.