Economics (NTSE/Olympiad)  

5. Consumer Rights

Consumer Exploitation

Any person who buys anything in the market or pays for any service is a consumer.
Consumer Exploitation
When a consumer is cheated in any way, either by the shopkeeper or the producer, by giving him poor quality or adulterated goods or by charging more price for a commodity or a service, it is called consumer’s exploitation.
Consumers are cheated by the manufacture by the following ways :
1. High Prices : Traders can charge a price higher than the price prevailing in the market because of the ignorance and urgency of the customer.
2. Underweight and under measurement : By their cleverness, some traders scoop so low that they cheat the consumer by resorting to under weight and under measurement tactics.
3. Sub standard quality : Some traders sell substandard quality products to the consumer. Now a days markets are full of duplicate products.
4. Adulterated and impure products : In edible items such as oil, ghee and spices adulterated is made in order to earn higher profits.
5. Improper information : Companies spend a considerable amount on advertisement alone to attract consumers and feed information that they want the consumers to know but not the information the consumers should know about the products.
6. Lack of safety devices : Some producers try to produce things of poor quality without caring for the standard safeguard norms.
7. Poor after sale service : Many things need adequate after sale service. But most of the sellers do not provide it.
8. False Claims : Sellers make false claim about the durability & quality of their products mainly through advertisements.
9. Hoarding & blackmarketing : To make more profit sellers indulge in creating artificial scarcity through hoarding & black marketing.
10. Rough Behavior & undue conditions : Consumers are often harassed and undue conditions are put before them to get their requirement fulfilled.

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