PRICE RISE AND CONSUMER AWARENESS. — Social Science STD 10 — Question
Gujarat BoardEnglish MediumSTD 10Social SciencePRICE RISE AND CONSUMER AWARENESS.2 Marks
Question
Constant price rise is the pre-condition for Economic Development.
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Answer
A gradual price rise is very important for the economic development of the economy.
3% price rise every year is beneficial to the country.
The cost of raw material increases 9iVing more profits to the suppliers this forces the producers of goods, who use the raw material to increase their prices.
The workers will then demand more wages and all around there is an increase in the real income of the people so demand for goods and services increases.
The producers are encouraged to produce more, which increases the production in the country and helps to increase the per capita income of the people.
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