Forms of Consumer Exploitation
Forms of Consumer Exploitation
Forms of consumer exploitation are disclosed under the Consumer Protection Act, 1986. When someone possesses the right then they should have remedies too, because, many people cheat or deceive many people. In this article, we discussed different ways of consumer exploitation.
Forms of Consumer Exploitation
Therefore, there is a Latin term “Caveat Emptor” which means “Let the buyer be aware”. When a person has to buy something or avail of the services, then he or she needs to be very careful. Otherwise, people exploit the consumer in many different ways.
However, there are different ways to the exploitation of consumers like convincing consumers, building trust, showing fake products as real, charging high prices etc.
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Meaning of Consumer
The Consumer is a person who buys the goods or avail of the services provided by the supplier by paying them in return for goods or services.
Meaning of Exploitation
When a consumer who has been deceived in any way (like fraud, coercion, undue influence, misrepresentation or fake information) or by any person is said to be exploited.
Forms of Consumer Exploitation
Forms of consumer exploitation list have been discussed in this article. Here, we have provided some different types of consumer exploitation listed below;
- Fake Advertisement/Misleading
- Law Literacy
- Lack of Bargaining Power
- Limited Information
- Limited Supplies
- Low Competition
- Irregular Prices Offered
- Lack of Unity
- Cumbersome and time taking legal proceedings
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