What is rampant food shortages,and hoarding and bl;ack marketing..explain with examples..
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Rampant food shortages means frequent scarcity of food for the people of a certain geographical area. That is, insufficient availability of food to satisfy the hunger of people in that particular place. Example: Occasional shortage of baby food.
Hoarding implies a situation where traders or shopkeepers store food or other material away from public glare. That is, even though the product or products are available with the traders or shopkeepers, they do not sell them immediately but build up stocks, mostly with an ulterior motive. The prevailing price does not satisfy hoarders, so they wait for an opportune moment when the price goes up and reaches a level that is attractive for them to sell. E.g.: Petrol pumps occasionally may stop sale of fuel when they are expecting an overnight increase in petrol and diesel prices.
Black marketing is a phenomenon when goods are illegally sold at a premium over their actual prevailing price by spurring demand with the adoption of illegal means. E.g.: In small town standalone movie halls (as opposed to Multiplexes elsewhere), regular black marketing of cinema tickets is seen.
Hoarding implies a situation where traders or shopkeepers store food or other material away from public glare. That is, even though the product or products are available with the traders or shopkeepers, they do not sell them immediately but build up stocks, mostly with an ulterior motive. The prevailing price does not satisfy hoarders, so they wait for an opportune moment when the price goes up and reaches a level that is attractive for them to sell. E.g.: Petrol pumps occasionally may stop sale of fuel when they are expecting an overnight increase in petrol and diesel prices.
Black marketing is a phenomenon when goods are illegally sold at a premium over their actual prevailing price by spurring demand with the adoption of illegal means. E.g.: In small town standalone movie halls (as opposed to Multiplexes elsewhere), regular black marketing of cinema tickets is seen.
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