Question

Tell me something about the sources of thinking that went in to formulating a strategy for development immediately after independence.

Answer 1

Rules and regulations" are required in the market place as consumers are often exploited in the market place as (1)sellers may sell their products at high rates. (2)cheating of underweight measurements of goods may happen. (3)sellers may sell duplicates products Or may sell adulterated/defective products. (4)sometimes cash memos(bills) are not given to the consumer. (5)sometimes false information of products is given to the consumer. (6) Markets do not work in a fair manner if there is monopoly of few and powerful producers and when purchase of consumer is small and they have no single voice. So there is need of rules and regulations in the market.Rules and regulations are required in the marketplace to protect consumers. Sellers often abdicate responsibility for a low-quality product, cheat in weighing out goods, add extra charges over the retail price, and sell adulterated/ defective goods. Hence, rules and regulations are needed to protect the scattered buyers from powerful and fewer producers who monopolise markets. For example, a grocery shop owner might sell expired products, and then blame the customer for not checking the date of expiry before buying the items.whatever can happen, will happen.”Newton's third law. You gotta leave something behind.