Question

Jack sells homemade chocolates and cookies. He expects the price of chocolates to increase around Valentine’s Day, so he prepares to make more chocolates in February. Which economic concept lies behind Jack’s decision to make more chocolates in February?

Answer 1

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Answer 2

Economic concept that lies behind Jack’s decision to make more chocolates in February is law of demand and market economy.  

The demand of chocolates will rise in February due to Valentine ’s Day and this will also increase the price of chocolates and he will  be able to earn double the profit.