Question

why is there a need to regulate prices

Answer 1

because India is not a rich country like others

Answer 2

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• Prices should be regulated bin order to increase the standard of living of the people.

• People are always worried about the rise in prices increase, it affects their consumption and they have to pay more for everything.

• As income is fixed, consumer has to reduce their expenditure.

• Cost of living rises.

• Standard of living falls.

• So, there is a need to regulate prices.

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