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Explain the circumstances under which markets …

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Explain the circumstances under which markets do not work in a fair manner.

Posted by Biraj Deka 6 years, 11 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 6 years, 11 months ago

Markets do not work in a fair manner when producers are few and powerful, whereas consumers purchase in small amounts and are scattered.
1. This is because large companies can easily manipulate the market with their huge wealth and power.
2. They can sell substandard goods.
3. They can also pass false information regarding their products in order to lure the consumers.

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CBSE > Class 10 > Social Science