Question

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 

Answer 1

 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.