Question

The coronavirus pandemic has taken the whole world by storm. While people

are caught up in the fear of contracting the virus, the nationwide lockdown,

announced by Prime Minister Narendra Modi on March 24, led to severe

disruptions and widespread confusion among people. The consumer

behaviour in India and across the world also changed rapidly over the course

of the crisis. While the lockdown resulted in panic buying and people

hoarding essential items such as rice, wheat, packaged food, homecare

products, etc., reports suggest that people did not stock up much on

confectionery and beverages, but only rushed to stock up on essential goods.

24. Name any two consumer goods.

25. How does an increase in demand of a commodity affect its price?

26. What is the price elasticity of demand for essential goods in the above

illustration?

27. Name the factor responsible for change in consumer behavior.​

Answer 1

Answer:

27 carelessness is the factor