DOI: https://doi.org/10.36719/2663-4619/115/220-223
Javid Hashimli
Baku State University
Master student
https://orcid.org/0009-0006-6460-3056
hasimlicavid4@gmail.com
Effectiveness of the Legal Framework in Forming Price
Policy in the Food Sector
Abstract
The food sector is of strategic importance in terms of population health and economic stability. The correct and fair formation of pricing policy in this area is important for both the well-being of consumers and the sustainable activities of entrepreneurs. One of the main factors affecting pricing policy is the existence of a legal framework. Legal mechanisms perform important functions such as price regulation, prevention of monopoly, and protection of quality and safety standards.
The legal framework regulating the food sector in the Republic of Azerbaijan consists of a number of laws and regulatory acts. These include the laws “On Antimonopoly Activity”, “On Protection of Consumer Rights” and “On Food Products”. Although these documents promote transparent and fair price formation, in some cases their effectiveness may decrease due to the weakness of implementation and control mechanisms.
Studies show that for a legal framework to be effective, its flexibility, compliance with market conditions and the functionality of its implementation mechanisms are the main conditions. At the same time, it is important that legal norms ensure a balance between entrepreneurs and consumers. Consequently, the successful formation and implementation of pricing policy in the food sector is directly related to the effectiveness of the legal framework, and continuous reforms are needed in this area.
Keywords: Pricing policy, food sector, legal framework, regulation, consumer rights