Question

"The markets work more in favour of rich and powerful." Justify the statement and give any
two ways to overcome such problem​

Answer 1

Answer:

here it is.....

Explanation:

• it is usually the rich and the powerful who earn the maximum profits in the market.
• These people have money and they own the factories, the large shops, large land holdings, etc.
• The poor have to depend on the rich and the powerful for various things. They have to depend on loans, for raw materials and marketing of their goods and most often for employment.
• This dependence makes the poor miserable. They are easily exploited in the market.
• They get low wages in spite of their hard labour and the rich earn huge profits at the cost of the workers.
• There are ways to overcome these such as forming cooperatives of producers and ensuring that laws are following strictly.