Read the following statement given below and choose the correct alternative Statement 1 Intermediari...........

Download Solution PDF

Read the following statement given below and choose the correct alternative

Statement 1- Intermediaries provide financial assistance to poor farmers

Statement 2- Government intervention in markets should be abolished

Both are correct

Both are incorrect

Statement 1 is correct and statement 2 is incorrect

Statement 1 is incorrect and statement 2 is correct

Explanation:

- Statement 1: "Intermediaries provide financial assistance to poor farmers" seems incorrect. Intermediaries often facilitate transactions or supply chain logistics rather than providing financial help directly to farmers.

- Statement 2: "Government intervention in markets should be abolished" is also incorrect. Government interventions, like subsidies or regulation, can help correct market failures and protect consumers and producers.

- Option 1: Both statements are neither typically true nor widely accepted.

- Option 2: Both statements are indeed incorrect based on common economic and social understandings.

- Option 3: Incorrect since statement 1 is not accurate.

- Option 4: Incorrect as statement 2 is not a broadly supported view.

Answer: Option 2 - Both are incorrect