When we buy commodities we find that the price charged is sometimes higher or lower than the Maximum Retail Price printed on the pack. Discuss the possible reasons. Should consumer groups do something about this?
The price charged can be higher than MRP due to unfair trade practices by traders. Sometimes traders add charges that were not mentioned before or exploit consumers when markets do not work in a fair manner. This happens especially when large companies with huge wealth and power manipulate the market.
On the other hand, prices can be lower than MRP because consumers can bargain with the seller to sell at less than the printed price. This is a legitimate practice available to consumers.
Consumer groups should definitely take action against such unfair practices. Individual consumers often find themselves in a weak position as sellers try to shift all responsibility onto the buyer. The consumer movement is an effort to change this situation. Consumers have the right to be informed and can protest if goods are sold at more than the printed price.
Explanation
This question tests students' understanding of consumer rights and unfair trade practices. The textbook clearly states that selling above MRP is an unfair practice that consumers can protest against, while bargaining for lower prices is acceptable. The context emphasizes that consumer groups need to act because individual consumers are in a weak position against powerful sellers.
Solution Steps
Step 1: Identify reasons for higher prices - unfair trade practices, hidden charges, market manipulation by powerful companies
Step 2: Identify reasons for lower prices - legitimate bargaining by consumers
Step 3: Explain why consumer groups should act - individual consumers are weak, sellers shift responsibility, consumer movement aims to change this