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PRICE RISE AND CONSUMER AWARENESS. — Social Science STD 10 — Question

Gujarat BoardEnglish MediumSTD 10Social SciencePRICE RISE AND CONSUMER AWARENESS.3 Marks
Question
Write Note On Administered Price Mechanism.
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Answer

Administered Price Mechanism: The government has made it obligatory for all the manufacturers to state the MRP - Maximum Retail Price on their products, which are inclusive of all taxes.
→ Essential Commodities Act. 1955 lays down the level of stocks to be maintained and their display. The traders are required to maintain stock registers. Any disparity between actual stock and that mentioned in stock register attracts punishment.

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