Question

Explain in what ways are consumers exploited in market?
OR
Describe the steps taken to control price rise.

Answer 1

Consumers are exploited in the following manner.

1. Charging high prices on products.

2. Adding of charges not mentioned by the government.

3. Adulterated products.

4. False information through media.

Steps taken to control pric rise:

1. Price Stabilization Fund (PSF) is being implemented to regulate price volatility of agricultural commodities.

2. Higher MSP so as to incentivize production.

3. Review of import and export of all essential commodities on a regular basis and imposing controls on exports and easing restrictions on imports

4. Stringent action against hoarders and black marketers manipulating market prices.