Think About It (Page 267) What are the other areas where you can see the government being involved in the markets? Class 7

Think About It (Page 267) What are the other areas where you can see the government being involved in the markets? Class 7

Question 1.

What are the other areas where you can see the government being involved in the markets? Class 7

Answer:

The government is involved in many areas, such as regulating prices of essential goods and services like Public Distribution System (PDS), water, electricity, education, sanitation and fuel. Ensuring safety standards for products, and providing public services like transportation and healthcare.

Question 2.

Are there areas where government intervention needs to be reduced? Discuss with family or relatives. Class 7

Answer:

Some people believe that the government should reduce its involvement in areas like small businesses, where too many regulations can make it hard for them to grow. No rationing and subsidies except essential products. No intervention in public services like water, electricity, sanitation etc. only control and frame rules and welfare laws for the users according to their economic strength.