Question

5. In Kolhapur,there is one producer whose
name is Vikas. He starts production of
traditional silk saari With the help of all four
factors . when people specially women)
got to know about that, they were excited to
purchase and after 6 months demand goes
up.
Initially Vikas started his business with 14
labors and 2400 square feet area, two
machines and Vikas managed all the things
by own.
When the demand increased he hired some
more labor but other inputs unchanged.
Which economic concept is describing in
this story. Eloborate the story with the help
of graph. (Non-anonymous question o
(4 Points)​

Answer 1

Explanation:

. In Kolhapur,there is one producer whose

name is Vikas. He starts production of

traditional silk saari With the help of all four

factors . when people specially women)

got to know about that, they were excited to

purchase and after 6 months demand goes

up.

Initially Vikas started his business with 14

labors and 2400 square feet area, two

machines and Vikas managed all the things

by own.

When the demand increased he hired some

more labor but other inputs unchanged.

Which economic concept is describing in

this story