Q1.
What are the other areas where you can see the government being involved in the markets?
Answer
Beyond the four roles named in the chapter, the government turns up in the market in many other ways. Group them and the answer becomes easy to remember.
| Role | Everyday examples you can see |
|---|---|
| As a buyer | Buys wheat and paddy from farmers for the food stores; buys textbooks, uniforms, medicines, vaccines, buses and defence equipment |
| As a seller and producer | Railways, post office, electricity boards, public sector banks, oil and steel companies, LPG and kerosene through ration shops |
| As a builder of market places | Lays out mandīs and regulated agricultural markets, weekly haat grounds, bus stands, cold storage and warehouses, roads and ports |
| As a rule-maker | Licences for shops; food safety inspections; stamping of weighing scales; printing of MRP; rules for medicine shops; pollution clearances for factories |
| As a protector of consumers | Consumer courts and helplines; action against adulteration and misleading advertisements; compulsory warning labels on tobacco |
| As a taxer | GST on goods and services; customs duty on imports — which changes what things cost in the market |
| As a protector of workers | Minimum wages, safety rules in factories and mines, limits on working hours, ban on child labour |
| As a supporter of small producers | Loans and subsidies for farmers, weavers and small industries; government e-marketplaces for artisans and small firms |