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Unit 4 Ch 5 : Consumer Rights — Social Studies STD 10 — Question

CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 5 : Consumer Rights3 Marks
Question
Describe the conditions in which markets do not work in a fair manner.
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Answer

Conditions in which markets do not work in a fair manner:
  1. When producers are few and powerful.
  2. When consumers purchase in small amounts.
  3. When consumers are scattered.
  4. When large companies have monopoly in production of goods as they have huge wealth and can manipulate the market in various ways.
  5. Passing on false information through media and other sources to attract the consumers.

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