“Two major problems faced by consumers are regarding information and price of consumer products.” Elaborate this statement with the help of four examples each.

Problems regarding lack of information:
Variation in price: For example, In the same market price of one item is different at different shops. So it is difficult for the consumer to know whose price is justified.

1. Labels may not give complete information.
2. Shopkeeper refuses to give leaflets.
3. The print may be blurred, overlapping, crammed information /very small font.
4. The leaflets are mostly out of print.
5. Leaflets are not written in the local language.

Problems regarding price

1. Prices are not fixed.
2. Prices in two shops also vary.
3. Shopkeepers charges more than highest MRP (Maximum Retail Price)
4. They sell loose products and charge any price.
5. Substandard /poor quality goods are sold for the price of good quality popular brands.
6. The cost of decorations, extra lights, air conditioner, are added to the price.