Maharashtra State BoardHSC Arts 12th Board Exam
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Choose the Correct Answer : In the Period of Scarcity of a Particular Commodity _________. - Economics

MCQ

Choose the correct answer :            

In the period of scarcity of a particular commodity _________. 

Options

  • (a)price becomes less

  • (b) demand becomes less

  • (c) price and demand increases

  • (d) price and demand decreases 

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Solution

 In the period of scarcity of a particular commodity price and demand increases.
Explanation:
When there is a scarcity of product, then all the consumer try to buy that product. Due to this the demand of that product rises. Also, as there are only a few quantities left with the supplier so in order to get the maximum benefit, they increase the prices.

Concept: Change in Demand
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