Question

why is there a need to regulate prices???

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accha nhi karni it's ok
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Answer 1

Explanation:

The continuous rise in the general price level in the economy is called inflation. Inflation affects every economic unit of the economy- consumers, firms, business units, and the government. There is a need to regulate the price level to protect the weak and financially vulnerable sections of society from the rise in general prices.

The rise in the price level is a sign of the fall in the money value i.e. more units of money should be given for purchasing the same commodity. This affects every section of the society especially the small income earners. Thus for maintaining a steady price in the economy, targeting and maintaining inflation is essential.

Fixed incomes earners like pensioners, daily wage earners, manual workers and small vendors, workers in small enterprises and in private low-income jobs are all badly affected by the continuous rise in prices. Income of the consumers adjusted to present inflation is the real income. Their money income does not change during inflation. So they are forced to cut down their consumption which again reduces their standard of living as they have to pay more for everything.

JI MOHTARMA HUME SULJHANA TO KISI AG SE KHELNE JAISA HAI AUR HUM NHI CHAHTE KI APKE YE KOMAL HATHO KO KUCH HO AP NE YE BOLA YHI MERELIYE KAFI HAI AP MELI JINDAGI ME AYI YHI BS KAFI HAI