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Nidhi Sharma 7 years, 8 months ago
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Shreya Sharma 7 years, 8 months ago
The PPF curve will shift to left.. as due to gst the cost of production will increase
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Shreya Sharma 7 years, 8 months ago
When commercial bank fails to fulfil its monetary requirements from other sources.. it approaches RBI as lender of last resort.
RBI helps the commercial bank by providing them the amount of money required
Adarsh Singh 7 years, 8 months ago
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Shipra Tanwar 7 years, 8 months ago
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Shreya Sharma 7 years, 8 months ago
Price ceiling refers to the minimum price fixed by the government at a level lower than the equilibrium price fixed by the free forces of demand and supply.. as the govt the feels the prices fixed are too high for common people to afford.
Implications are
1. Black marketing- It refers to selling the commodity at a price higher than the price fixed by the government. It majorly arises due to the consumers who are not willing to leave the market without taking the product
2. Inflation- When the govt fixes the price of a commodity at a level lower than the equilibrium price.. it leads to a situation of excess demand.. which leads to inflation in an economy
Shipra Tanwar 7 years, 8 months ago
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Nidhi Sharma 7 years, 8 months ago
0Thank You