Question

"the necessity to control price has arose" explain​

Answer 1

Answer:

Price controls are government-mandated legal minimum or maximum prices set for specified goods. They are usually implemented as a means of direct economic intervention to manage the affordability of certain goods.

Answer 2

- Price rise increases profit, income, purchasing power,demand of good and services, etc. Increase in all these things makes lives of poor and middle class people miserable.

-The cost of production increases and goods become expensive. As a result, exports have yo raise the price while exporting the goods. On the other hand, other countries may be selling same goods at cheaper prices and so our export would decrease. Increased import and decreased export disturbs the balance of exchange.

Hence, the necessity to control price rise has arose.

Hope it helps!!!