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Unregulated markets are where supply and demand are either not regulated or if regulated it is only with minor restrictions
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Explanation:
Since raising profit is the biggest stimulus for businesses, they would try to cut costs unethically. The incentive to raise profit deliberately encourages dishonest actions in some circumstances.
Goods/services which are not profitable will not be made or managed. Rural areas as such would have to endure.
Yet large firms will dominate those markets where rivalry exists. Which helps retailers to raise their profits and by using manufacturers (by price reductions) and consumers (by charging higher prices).
Wealth is "uevenly distributed" – a limited proportion of population is rich, but most of them live in poverty.
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Role of Market Committee in Ensuring Fair Play in the Market
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An autonomous body composed of its representatives from many constituencies, such as merchants, farmers, local civic councils, etc., is a market council.
An idealised system in which the government controls supply and demand mechanisms like who accesses the economy or costs.
It facilitates trade among producers and sellers and at the same time safeguards farmers' rights.
The purpose is to eliminate dangerous and unscrupulous practises, minimise manufacturing costs and provide services for producers in the industry.
