Q. 104.3( 3 Votes )
Give two arguments in favour of regulating the prices in India.
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 :
In what ways producer create artificial scarcity?All In One - Economics
When does consumer have the right to be Protected?All In One - Economics
What kind of consumer disputes are settled consumer courts?All In One - Economics
What is required to maintain safety and quality of products and services?All In One - Economics
“Consumer awareness is essential to avoid exploitation in the market place.” Support the statements.Together With Social Science
When the consumer movement did begin in an organised form?Together With Social Science
In which situation a consumer finds himself exploited?All In One - Economics