A customer would continue to buy even if price increases rapidly.

chicken

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mobile phones

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medicines

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clothes

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Solution

The correct option is C medicines
Among the options, medicines are essential goods and have no substitutes. One can do without clothes, chicken or mobile phones.

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Similar questions

Which of the following products would a customer keep on buying even if there is a sudden increase in price?

R s 12000

15 %

10 %

5 %

Statement: The company has decided to increase the price of all its products to tackle the precarious financial position.

Assumptions:

I. The company may be able to wipe out the entire losses incurred earlier by this decision.

II. The buyers may continue to buy its products even after the increase.

III. The company has adequate resources to continue production for few more months.

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