(write a paragraph on Fair Price ) for 10 marks
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Answer:
Fair Price Shops - The foodgrains procured by the government through FCI is distributed to the poor section of the society through ration shops. The Ration Shops are called Fair Price Shops because food grains are supplied to the poor through these shops at much reasonable and a fair price than the market price which is often high. Any family with a ration card can purchase stipulated amount of food grains, sugar, kerosene etc. every month from the nearby fair price shop.
A fair and reasonable price is the price point for a good or service that is fair to both parties involved in the transaction. This amount is based upon the agreed-upon conditions, promised quality and timeliness of contract performance
Fair Price Shops are distribution channels of Government making available the essential commodities like rice,kerosene, wheat etc., to common man at controlled prices. Locally these are known as "ration shops" and chiefly sell wheat, rice, kerosene and sugar at a price lower than the market price
Determine the fair value of 1,000 shares of a public company's stock by using the Internet or a major newspaper to find the last closing share price for the stock. For example, if the stock closed at a price per share of $50 yesterday, then the fair value of 1,000 shares is 1,000 x 50 = $50,000.
Fair Price Shops: Ration shops are known as Fair Price Shops which keep stock of foodgrains, sugar, kerosene oil for cooking.
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