how can laws ensure that market works in a manner that is fair? give 3 example
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Search ResultsFeatured snippet from the webLaws can ensure that markets work in a fair manner. The frequently upgraded Minimum Wages Law ensures that workers are not exploited and over-worked by companies that hire them. Also, a law keeping checks on the quality of production makes sure that sub-standard goods do not enter the market.
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Ans : Laws ensure that markets work in a fair manner by protecting the people from unfair practices.
The two examples are :
The government should regularly inspect the working condition and punish the violators. The frequently upgraded Minimum Wages Law ensures that workers are not exploited and over-worked by companies that hire them.
The government should monitor the activities of individuals or private companies if they are adhering to safety standards. Also, a law keeping check on the quality of production makes sure that sub-standard goods do not enter the market.