What is the role of price mechanism system in price regulation? – InterviewSolution

1.	What is the role of price mechanism system in price regulation?
Answer» Administered Price Mechanism: The government has made it obligatory for all the manufacturers to state the MRP (Maximum Retail Price) on their products, which are inclusive of all taxes. Essential Commodities Act, 1955 lays down the level of stocks to be maintained and their display. The traders are required to maintain stock registers. Any disparity between actual stock and that mentioned in stock register attracts punishment.

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