Understanding Markets — Social Studies STD 7 — Question
CBSE BoardEnglish MediumSTD 7Social StudiesUnderstanding Markets2 Marks
Question
What role does the government play in markets?
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Answer
The government regulates markets by setting price limits on essential goods to prevent unfair pricing. It ensures product quality through certification marks like FSSAI, ISI, and AGMARK. The government also provides infrastructure like roads and public facilities to support smooth market functioning.
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