. How can laws ensure that markets work in a manner that is fair? Give two examples to support your answer.

Best Answer

Answer: Laws ensure that markets work in a fair manner by protecting the people from unfair practices. The two examples are –

Child Labour Prevention Act: This law states that no child below the age of 14 years shall be employed to work in any factory or mine or engage in any other hazardous employment.
Right against Exploitation: This law states that no one can be forced to work for low wages or under bondage.
The government has also passed laws to make sure that essential products such as kerosene, food grain, sugar etc are not highly priced. It is imperative to impose such restrictions on people who are marketing these types of products, so that people of low economic strata can afford these goods.

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