Maharashtra State BoardHSC Commerce 12th Board Exam
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Give Reason Or Explain the Following Statement: the Supply of Agriculture Commodity is Relatively Inelastic. - Economics

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Give reason or explain the following statement:

The supply of agriculture commodity is relatively inelastic.

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Solution

Production of agricultural commodities depends on natural factors such as rainfall, climatic conditions etc. Due to unforeseen changes in weather, the agricultural productions is low, then their supply cannot be increased even at a higher price. As a result, the supply of agricultural commodities is relatively inelastic.

Concept: Concept of Supply
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