Exploiting a lack of knowledge creates an uneven playing field. Vulnerable individuals may be persuaded to purchase products or services they do not need, are not suitable for their circumstances, or are offered at unfair prices. For example, someone unfamiliar with technical jargon might be swayed by misleading claims about a product’s capabilities, leading to a purchase they would later regret.
Fair market practices depend on transparency and informed decision-making. Protecting consumers from manipulative tactics builds trust in businesses and contributes to a healthier economy. Historically, consumer protection laws have emerged as a response to unethical practices targeting vulnerable populations, underscoring the importance of ethical considerations in commerce.
