PRICE RISE AND CONSUMER AWARENESS. — Social Science STD 10 — Question
Gujarat BoardEnglish MediumSTD 10Social SciencePRICE RISE AND CONSUMER AWARENESS.2 Marks
Question
Why is regulation of price necessary?
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Answer
There is need for regulation of prices because:
When there is price rise the purchasing power of the money decreases so poor people and those with fixed income are not able to full fill their basic wants.
The producers and traders shouldn’t indulge in profiteering by raising the prices, creating artificial scarcity or hoarding.
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