Mention a few factors which cause exploitation of consumers.
Traders, shopkeepers and producers exploit the consumers in many ways. Some of the major methods are listed below-
1. Incomplete or wrong information : Many producers exaggerate the quality of their goods and write on the packet, due to which the consumers get cheated. When they use such things, they get the opposite and feel cheated.
2. Unsatisfactory Service : There are many items which need service for a long time after purchase, such as coolers, fridges, washing machines, scooters and cars etc. But the promises made to the consumer at the time of purchase are not fulfilled after purchase. Sellers and producers harass the consumers by putting the responsibility on each other
3. Artificial Scarcity : Being greedy, sellers suppress many things even when they are there. Due to this artificial scarcity of goods is created in the market. Later, the shopkeepers earn profit by selling the same goods at higher prices. In this way, the producers, sellers and traders exploit the consumers in various ways.
4. Substandard goods : Some unscrupulous producers start selling substandard goods in the market with the aim of collecting quick money. The shopkeeper also gives substandard goods to the customer because by doing so he gets more profit.
5. Weighing or measuring less : Many clever and greedy shopkeepers try to cheat the customers by less weighing or less measuring different types of things.
6. Higher price : Some shopkeepers try to increase their profit by selling things at higher prices, where the selling price is not written on them.
7. Adulteration : Greedy producers do not desist from adulteration of food items like ghee, oil, butter, spices etc. to increase their profit. In such a situation, the consumers suffer a double loss. Firstly, they have to pay a higher price for inferior goods, and secondly, their health is also harmed.
8. Ignoring safety measures : Some manufacturers do not follow safety rules while making various items. There are many things that need special care from the safety point of view, such as a faulty safety valve in a pressure cooker can lead to a fatal accident. In such a situation, the producers sell deadly devices because of a little greed.