ICSE Class 9 Answered
List some common business malpractices which prevail in the market.
Asked by Topperlearning User | 21 Apr, 2015, 03:32: PM
Expert Answer
The common business malpractices which prevail in the market are:
- Sale of adulterated goods, i.e. addition of inferior substances to the product being sold.
- Sale of sub-standard goods, i.e. sale of goods which do not confirm to the prescribed quality standards.
- Use of false weights and measures leading to losses.
- Supply of defective goods.
- Misleading advertisements, i.e. advertisements falsely claiming a product or service to be of superior quality, grade or standard.
- Sale of spurious goods, i.e. selling something of little value instead of the real product.
- Sale of duplicate goods.
- Hoarding and black-marketing which leads to scarcity and rise in prices.
- Charging more than the maximum retail price (MRP) fixed for the product.
- Supply of inferior services, i.e. quality of service is lower than the quality agreed upon.
Answered by | 21 Apr, 2015, 05:32: PM