PRICE RISE AND CONSUMER AWARENESS. — Social Science STD 10 — Question
Gujarat BoardEnglish MediumSTD 10Social SciencePRICE RISE AND CONSUMER AWARENESS.2 Marks
Question
Hoarding is both a cause and effect of price rise.
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Answer
When the producers and traders expect rise in prices in the near future they hoard goods.
This creates artificial scarcity in the market.
The producers and traders then charge high prices and indulge in black marketing and profiteering. Thus hoarding acts as both the cause and effect of price rise.
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