‘Consumer awareness is essential to avoid exploitation in the market

1.	‘Consumer awareness is essential to avoid exploitation in the market place.’ Support the statement.
Answer» Consumer awareness is essential to avoid exploitation in the market place as: Consumers must be aware of not only the goods and services but also legal measures to protect themselves. If consumers are actively involved, companies will also be on their guard to provide better goods and services. Consumers must be aware of anti-social activities like hoarding, black marketing etc. It makes consumer a rational consumer having knowledge of how market works. It enables consumer to be aware of government policies for certification marks such ISI, Agmark that ensure product quality for consumers. It enables consumer to use Right to Information Act (RTI) to get information on functioning of government departments.

‘Consumer awareness is essential to avoid exploitation in the market place.’ Support the statement.

Answer»

Consumer awareness is essential to avoid exploitation in the market place as:

Consumers must be aware of not only the goods and services but also legal measures to protect themselves.
If consumers are actively involved, companies will also be on their guard to provide better goods and services.
Consumers must be aware of anti-social activities like hoarding, black marketing etc.
It makes consumer a rational consumer having knowledge of how market works.
It enables consumer to be aware of government policies for certification marks such ISI, Agmark that ensure product quality for consumers.
It enables consumer to use Right to Information Act (RTI) to get information on functioning of government departments.