Q. 104.3( 3 Votes )

Give two arguments in favour of regulating the prices in India.

Answer :

Yes, prices should be regulated to control the market in India.


• Price regulation by the government reduces the artificial scarcity that is created by the producers to increase the level of price. When the price of the commodity is being increased the profit of the producers rises, but it will be a loss to the consumers. For protecting the consumers from the rise in the prices for the good price, regulation is essential.


• When the shopkeeper forces to buy the product which has higher prices, then the consumer must know the quality and quantity of the product. The product must be worth the price.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses