Regulated Market :Regulated market is wholesale market where buying and selling are regulated and controlled by the state government through the market committee.Regulated market aims at the elimination of unhealthy and unscrupulous practices regardi…

Answer: (1) The Bombay Agricultural Product Market Act, 1939 (2) Cash transactions, short weights, excessive market charges, unauthorised deductions and absence of machinery to settle disputes (3) Opinion given below.

(1) The regulated market is controlled according to the Bombay Agricultural Product Market Act, 1939.

(2) The poor standards are cash transactions, short weights, excessive market charges, unauthorised deductions and the absence of machinery to settle disputes between sellers and buyers.

(3) Opinion: In my opinion regulated markets are very useful for farmers. In unregulated markets, middlemen and traders exploit farmers through wrong weights, high commission and unfair deductions. Regulated markets run by market committees (APMCs) ensure correct weights and measures, fixed and reasonable market charges, open auction and fair prices, prompt payment and a proper system to settle disputes. They also provide facilities like storage, grading and market information. Thus they protect farmers from exploitation, raise their income and bring transparency to agricultural marketing. More such markets with modern facilities should be set up and their working should be made efficient and free from corruption.