Question

"Price rise is beneficial to as well as a hindrance in economic development." explain

Answer 1

Answer:

If the price increase for a particular commodity then the profit margins of the producting industry will increase if they are able to maintain the same amount of production cost which was before the price rise.

But on the same time the price rise will decrease the market demand for that commodity because the consumers need a good quality product with cheap price. If price rises for a commodity consumers will look for alternative choices.

Answer 2

Answer:

Answer: If the price increase for a particular commodity then the profit margins of the producting industry will increase if they are able to maintain the same amount of production cost which was before the price rise. ... If price rises for a commodity consumers will look for alternative choices.Jun 3, 2020

Explanation:

Price rise is beneficial to as well as a hindrance in economic development