Consumer Exploitation

Is it ironic that consumers are referred to as 'kings' despite being exploited?

True

Are significant numbers of consumers taken advantage of on a daily basis?

True

The power that consumers have in their pockets is the reason why they are referred to as 'kings'

True

Consumers are never taken advantage of on a daily basis

False Signup and view all the answers

The term 'king' is used to describe consumers because of the influence of their purchasing power

True Signup and view all the answers

It is not ironic that consumers are referred to as 'kings' despite being exploited

False Signup and view all the answers

What factors contribute to consumers being exploited?

Various factors contribute to consumer exploitation, including information asymmetry, lack of regulation, and market power imbalances. Signup and view all the answers

What are some examples of ways in which consumers are exploited?

Examples of consumer exploitation include deceptive advertising, hidden fees or charges, and poor quality products or services. Signup and view all the answers

What can be done to protect consumers from exploitation?

Protecting consumers from exploitation requires a combination of regulatory measures, consumer education, and market competition. This includes enforcing laws against deceptive practices, improving access to information, and promoting fair competition among businesses. Signup and view all the answers