PRICE RISE AND CONSUMER AWARENESS. — Social Science STD 10 — Question
Gujarat BoardEnglish MediumSTD 10Social SciencePRICE RISE AND CONSUMER AWARENESS.3 Marks
Question
Why has it become necessary to control price rise$?$
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Answer
$>$ Indian planning aims at economic development with stability in prices.
$>$A price rise of the tune of $3\%$ is beneficial for the country.
$>$ The advantages of price rise like increased salary, bonus, and other facilitites, in the end reach the workers or labourers associated with the production of goods or services.
$>$But many times, if the intention of the traders and producers is to attain maximum profit, then they adopt illegal means to increase the prices.
$> $Can not purchase goods in the required quantity.
$>$ In the end their level of living deteriorates, thereby creating social dispute and many other problems. Hence the government should see to it that the traders do not indulge in profittering.
$> $As the production cost of goods increases in the country, they become expensive, so the cost of export goods increases. Comparatively imported goods become cheap in the market. As a result exports decrease and import increases, balance of exchange is disturbed. Imbalance is created in import and export.
$>$ Living standard of poor or middle class deteriorates because of price rise. In order to fulfill requirements, immoral activities like theft, robbery, murder, crime, prostitution, betting, hoarding, profiteering, black marketing, corruption, suicide increase in the society. Moral degradation occurs in society.
$>$ Thus, inflationary price rise is a hindrance for economy. So there is a desperate need to control price rise.
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