Why are rules and regulations required in the marketplace? Illustrate with few examples.



Q.1:- Why are rules and regulations required in the marketplace? Illustrate with few examples.

 

Answer:-

Rules and regulations are required in the marketplace to protect the consumers against exploitation by the producers, sellers and service providers. They often indulge in unfair trade practices and provide false information about a particular service or product. Most of consumers are unaware about their rights and they are often deceived by the suppliers. So in the interest of the consumer, it is necessary to take action against suppliers and producers.



TutionTeacher: Know free answers of your school textbook. You can find the correct answer of your School textbook question here. This education portal will help in getting the NCERT solutions for your exams. Here you will get the complete question answer and solution of your textbook for your better education. Your can also ask for online study and assignment help from menu. Online test series will also help you how to learn and achive better marks in your school or collage.