Answer:
Farmers prefer to sell their farm produce in unregulated market because they are they are not bound by rules and regulations, they are free to set prices of their produces to any amount they want and are in full control of whatever they do in the market unlike the regulated market where everything is controlled by the the statutory market organization who are standing on behalf of the various sections involved in markets
Explanation:
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Market
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This is simply regarded as a meeting place meant for buyers and sellers or products and services
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Market economy
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This is simply referred to as an economic system where demand, supply, and the price system guides people decision making.
On the Basis of Extent of Public Intervention, markets can be regarded as a. Regulated Markets: This is a type of Markets where business transactions follows the rules and regulations as set up by the market statutory organization representing various sections of the markets. Here, marketing costs are often standardized and practices are strictly monitored.
b) Unregulated Markets: These are the markets where business is carried out without any rules and regulations being laid down. Traders are solely in charge of the rules for the conduct of the business and how the market is to be run. Disadvantages includes standardized charges for marketing functions, irregular prices determination.
