Why are rules and regulations required for the protection of consumer’s interest in the market place? Explain two reasons.

Rules and regulations are required for the protection of the consumers in the marketplace. Individual consumers often find themselves in a weak position.

Exploitation in the marketplace happens in various ways.

• sometimes traders indulge in unfair trade practices such as when shopkeepers weigh less than what they should
• when traders add charges that were not mentioned before
• when adulterated/defective goods are sold
• At times false information is passed on through the media, and other sources to attract consumers.