Study the following passage and answer the questions given below it:
| Regulated market is wholesale market where buying and selling are regulated and controlled by the state government through the market committee. Regulated markets aim at the elimination of unhealthy and unscrupulous practices regarding charges and providing facilities to producers and sellers in the market. The poor standards of primary and secondary markets in the agricultural market are cash transactions, short weights, excessive market charges, unauthorized deductions, and the absence of machinery to settle disputes between sellers and buyers. These defects and malpractices can be recovered by the establishment of a regulated market. According to the Bombay Agricultural Product Market Act-1939, this market is controlled. In this market, mainly the trade of cereals, fruits, tobacco, cotton, groundnut, coconut, betel nut, potatoes and turmeric, etc. is controlled. |
|---|
| Which act regulates the market? |
| (1) |
| What are the poor standards in primary and secondary markets? |
| (1) |
| Give your opinion with reference to the above passage. |
| (2) |
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →The market is regulated under the Bombay Agricultural Produce Market Act, 1939. The poor standards in primary and secondary markets are cash transactions, short weights, excessive market charges, unauthorised deductions and the absence of machinery to settle buyer–seller disputes; a regulated market is set up precisely to end these malpractices and protect farmers.
Answers based on the passage
1. Which act regulates the market? (1 mark)
The market is regulated and controlled under the Bombay Agricultural Produce Market Act, 1939.
2. What are the poor standards in primary and secondary markets? (1 mark)
The poor standards / defects are: cash transactions, short weights, excessive market charges, unauthorised deductions, and the absence of any machinery to settle disputes between sellers and buyers.
3. Give your opinion with reference to the above passage. (2 marks) …
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.