THE CONSUMER IN THE MARKETPLACE Likewise, rules and regulations are required for the protection of the consumers in the marketplace. Individual consumers often find themselves in a weak position. Whenever there is a complaint regarding a good or service that had been bought, the seller tries to shift all the responsibility on to the buyer. Their position usually is – “If you didn’t like what you bought, please go elsewhere”.
As if the seller has no responsibility once a sale is completed! The consumer movement, as we shall discuss later, is an effort to change this situation. Exploitation in the marketplace happens in various ways. For example, sometimes traders indulge in unfair trade practices such as when shopkeepers weigh less than what they should or when traders add charges that were not mentioned before, or when adulterated/defective goods are sold.
Markets do not work in a fair manner when producers are few and powerful whereas consumers purchase in small amounts and are scattered. This happens especially when large companies are producing these goods. These companies with huge wealth, power and reach can manipulate the market in various ways. At times false information is passed on through the media, and other sources to attract consumers.
For example, a company for years sold powder milk for babies all over THEY PURPOSELY MADE IT SO IT WOULD FALL APART AFTER A FEW MONTHS SO THAT I WILL BUY A NEW ONE!