Question

what are the limitations of Market mechanism system?
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Answer 1

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People with high income have more voting power than the poor. Producers produce goods and services for them who have large money power. Thus, the price mechanism cannot ensure social justice; rather, it widens inequality in the distribution of income and wealth

''the rich get richer, the poor poorer''.

Hopes it help you✌️✌️

Answer 2

Answer:

hey mate here is your answer......

Explanation:

➡️ Because of keeping profit in the centre of production, commodities are produced in more quantity and production of luxurious commodities of basic requirement is neglected or reduced.

➡️ Because of lack of policy related to role of state, natural resources are wasted.

➡️ Due to lack of knowledge and ignorance about the market, consumer are exploited.

➡️ Due to centralisation of poverty and income there is increase in disparity of income.

➡️ There is a fear of monopoly, economic instability, exploitation of labour etc.

Hope it helps!☺️