Chapter 5

NCERT
Class 10
Economics
Solutions
1. When we buy commodities we find that the price charged is sometimes higher or lower than the Maximum Retail Price printed on the pack. Discuss the possible reasons. Should consumer groups do something about this?

Question:

When we buy commodities we find that the price charged is sometimes higher or lower than the Maximum Retail Price printed on the pack. Discuss the possible reasons. Should consumer groups do something about this?

Answer:

When we buy goods, we find that sometimes the price charged is more or less than the price printed on the packet. The reasons for this are the following which are as follows-

(i) Uneducated ignorance or indifference of the consumer.

(ii) When the demand for a commodity is more than the supply, sellers want to take advantage of this and maximize their profits by charging higher prices from the consumers.

(iii) If the seller sells the goods at a price less than the fixed price, it is possible that he is selling counterfeit or low quality goods. At this stage consumer groups should pressurize the sellers to keep the price below the MRP. Apart from this, the help of Consumer Protection Court or Police can also be taken.

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