Economy, asked by SweetyTanuja22, 19 days ago

When the price of petrol is anticipated to rise, people queue up at petrol pumps. What is the reason for this?

Answers

Answered by 121inhelp

4

Answer: To try and get petrol at the cheaper (older) rates.

Explanation: When such estimates are made by learned scholars they're in most situations, true. Hence, people start queuing up at the petrol stations in hopes of getting their thanks filled before the prices go up, in an attempt to save those extra few rupees.

Answered by alforid

0

Answer:

When the price of petrol is anticipated to rise, people buy petrol before the price rises to avoid paying more. This is because future expectations about prices can have an impact on the consumer’s current demand. Thus, the expectation of higher prices in the future causes the current demand to rise.

Explanation:

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