Question

why does the government need to control prices of essential commodities

Answer 1

essential commodities are need of every people either poor or rich .
Bt if prices are high ,then only rich people can afford it .
poor people can't afford it, and for them ,govt. need to control .

Answer 2

Answer:

Whenever,there is a shortage of commodity in the market caused by failure of a crop,strikes and lockouts in a factory or disruption of transport due to climatic condition.Traders have a tendency to hord the goods and then release small quantities of stock at extremely high prices to the public.People especially those who belong to the lower economic strata, suffer due to shortage of essential products.To provide Social justice to the people, the government control the prices of a few essential commodities so that the poor people are assured their availability at fixed price.

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