Price controls are implemented on life-saving medicines, hand sanitisers, basic food grains and agricultural minimum support prices. Governments cap prices to prevent hoarding and exploitation, while price floors protect farmers from incurring losses.
The government levies higher taxes on products such as tobacco and alcohol to promote healthier choices among citizens. Can you find out other goods where price controls have been set in place? What are the reasons for the same?
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Governments enforce price controls on life-saving medicines, hospital equipment, baby food and hand sanitisers under essential commodity regulations to prevent black-marketing and ensure affordability for vulnerable citizens. Additionally, price floors such as minimum support prices for wheat and paddy ensure farmers receive fair remuneration. These interventions aim to maintain social equity, public health, food security and market transparency during crises.
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