CameraIcon

SearchIcon

MyQuestionIcon

9

You visited us 9 times! Enjoying our articles? Unlock Full Access!

Business Studies

Importance and Features of Business Environment

Due to excess...

Question

Due to excessive rainfall price of umbrella soared up in state of west bengal. Use diagram and economic theory to analyse the statement

Open in App

Solution

Dear student,
In the given situation the demand for umbrellas increases. With supply remaining the same this would lead to a rise in the price of the good.

You can view the diagrammatic presentation of the situation from our study material following the below mentioned path:
Class 12- Economics - Microeconomics - Market equilibrium - Market equilibrium under fixed number of firms- Topic: Increase in demand

Suggest Corrections

thumbs-up

0

Similar questions

Q. The following headline appeared in the Economic Times:
"Import duty on crude and refined edible oil up by

5 %

"
Use a diagram and economic theory to analyse the impact of the statement on the supply of crude and refined edible oil in the domestic market.

Q. The following news was printed in the Economic Times:
"Petrol and diesel prices were cut by Rupees 2 per litre each as international oil prices slumped to a five-year low."
Use a diagram and economic theory to analyse the impact on the demand for cars in India.

Q. "Discovery of natural gas in the international market leads to a cut in the petrol and diesel prices."
Explain the economic theory to analyse the impact of the statement on the cost of production of the transport firms in India. Also analyse its impact on the cost of transportation.

Q. The following headline appeared in The Times of India:
"Purchase only made-in-lndia gadgets"
Use economic theory to analyse the impact of the statement in terms of competition in the domestic market.

Q. The following headline appeared in the Economic Times:
"Room Supply may Hit Hotel Revenues."
Explain the economic theory to analyse the impact of the statement.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Importance and Features of Business Environment

BUSINESS STUDIES

Watch in App

explore_more_icon

Explore more

Importance and Features of Business Environment

Standard XII Business Studies

Join BYJU'S Learning Program

CrossIcon