Question

‘Regulated markets are useful for the farmers, still they sell their produce in the unregulated market.' Why?

Answer 1

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:

Market

This is simply regarded as a meeting place meant for buyers and sellers or products and services

Market economy

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.