The cause of change in price of perishable good is:A SupplyB DemandC ProducerD Cost
Question
The cause of change in price of perishable good is:A SupplyB DemandC ProducerD Cost
Solution
The price of perishable goods can change due to a variety of factors:
A. Supply: If the supply of the perishable goods increases significantly, the price may decrease as there is more of the product available. Conversely, if the supply decreases, the price may increase due to scarcity.
B. Demand: The price can also change based on demand. If more people want the perishable goods, the price will likely increase due to the high demand. If fewer people want the goods, the price may decrease.
C. Producer: The producer can also influence the price. If the cost of production increases, the producer may increase the price to maintain profit margins.
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