What are 10 examples of unfair trade practices?

Answer 1

example

1- misrepresentation, where the product being bought is of a fake description.

2- Unfair Trade Practices by the oil companies that produce gasoline.

Only a few days following any number of occurances that could cause a decline in the production of gasoline, the oil companies that produce gasoline raise prices, usually significantly, and they continue to raise the price of gas every two to three days for weeks, even after the [often phoney] crisis is over.

In my opinion, this is an unfair trade practice that should be illegal. The reason is because the gasoline that is already in the "pipeline," from storage tanks at the refineries to gasoline already in tankers to the gasoline already in the tanks at the gasoline stations has already been paid for at the lower price. To raise the price of that gasoline is immoral.

3- Price Gouging. This is illegal, however it is a very common practice during a crisis such as shortly before until weeks after a hurricane. Price gauging is when a seller of goods greatly raises the prices of items in high demand because of the crisis. For example, following a flood, goods such as wood, paint, carpet, bedding, potable water, and several others are in high demand. Some retailers, and usually fewer wholesellers, take advantage of the high demand and gouge buyers in need of goods ruined by the flood water.

4- Monopolies.

5- Price Fixing.

6- Bid Rigging. This practice damages competition and ends up hurting the consumer or the taxpayer. It usually involves bribing government officials who wield complete or a large amount of influence over high-dollar projects such as highway construction or public housing.

7- Predatory Dumping. This usually involves a foreign company, but whoever does it is the manufacturer of a popular good like TV's, cell phones, or computers. Predatory dumping occurs when a manufacturer "dumps" its product in a market at a loss in order to force its competitors to lower their prices, thereby hurting the competitor's profits and possibly forcing it out of business.

8- Unfair Mergers