how can laws institute at market work in a manner that is fair
Answers
Laws can ensure that marketcan function in proper manner in following ways -
1) various laws can provide rights to consumers which can help them to prevent exploitation in market
2)laws if implemented properly can ensure that the goods are sold at proper MRP and also that they are not sold below the measurement and below the weight
3)various laws and be made that can prevent the unfair trade practices and malpractices in market by the traders and producers
Answer:
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.