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Consumers are cheated in marketplace by a numerous no. of ways,some of which include hoarding , black marketing , selling products at higher prices than its actual price , selling products mainly medicine after its expiry date crossed , selling default products , and many more........
What else can I help you with?
How can one determine the economic surplus in a market?
To determine the economic surplus in a market, calculate the difference between the total value that consumers place on a good or service and the total cost of producing it. This surplus represents the benefit gained by both consumers and producers in the market.
What is a product market?
Product market is the place where goods and services are created and sold by businesses. This does not include trading instead focuses on finished goods purchased by the public sector and foreign buyers.
How does a market system function?
You will need consumers and producers and a land or a place for them to trade, in the modern world money and products are used to be traded.
Where do consumers and producers meet?
Market
Who owns the resources in market economy?
Consumers
What is Market Positioning?
Positioning is the way in which consumers perceive products/services in the market place.
How can one determine the economic surplus in a market?
To determine the economic surplus in a market, calculate the difference between the total value that consumers place on a good or service and the total cost of producing it. This surplus represents the benefit gained by both consumers and producers in the market.
What are contestable consumers in the electricity market?
These consumers have the choice of buying electricity either from retailers or from the wholesale electricity market.
What is a product market?
Product market is the place where goods and services are created and sold by businesses. This does not include trading instead focuses on finished goods purchased by the public sector and foreign buyers.
How does a market functions?
You will need consumers and producers and a land or a place for them to trade, in the modern world money and products are used to be traded.
How market does function?
You will need consumers and producers and a land or a place for them to trade, in the modern world money and products are used to be traded.
What happens in a market?
In a product market businesses make and sell goods to consumers. Consumers use their income to purchase these goods.
Difference between mass market and niche market?
Mass market is when business targets general consumers (the majority) in the market with general needs. Niche market is when business targets a small group of consumers with specific needs in the market.
Do consumers sell goods in the market?
no
Where do consumers and producers meet?
Market
How does a market system function?
You will need consumers and producers and a land or a place for them to trade, in the modern world money and products are used to be traded.
Who owns the resources in market economy?
Consumers
