Choose whether the given statement is True/False

The government does not involve itself in the functioning of the market.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
The government, indeed, does intervene in the functioning of the market. It is one of the functions of the government to regulate the market. The government controls the market by making legislation or laws. The government is intervening in the market to guarantee that no unjust practices occur. Prevention of unfair practices in the market is important for the flawless delivery of social justice. The state has to intervene in market affairs to ensure that even the vulnerable section of society can access the market without facing exploitation.
Thus, the correct statement would be that the government is involved in the functioning of the market.

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