What are the various ways by which people may be exploited in the market?
People are exploited in the market in various ways. Traders often indulge in unfair trade practices such as weighing less than what they should or adding charges that were not mentioned before. Sometimes, shopkeepers sell adulterated or defective goods to consumers.
Large companies with huge wealth and power manipulate the market by passing false information through the media to attract consumers. For instance, companies may make false claims, such as asserting that powdered milk is better than mother's milk. In the informal sector, moneylenders exploit borrowers by forcing them to sell produce at low rates or sell their land to repay loans.
Explanation
The answer is derived directly from the provided textbook context which lists specific instances of exploitation. It covers unfair trade practices (under-weighing, hidden charges), quality issues (adulterated goods), misinformation by large companies, and exploitation by moneylenders in the informal sector. This ensures a comprehensive answer suitable for 3 marks.