Rise in the price of a commodity means

Question

YESPYQ · Accepted Answer

Correct answer: d) Fall in the value of currency and rise in the value of commodity. Key concept:- Inflation-Inflation refers to the increase in the price of most goods and services that are routinely or commonly used. Food, clothing, housing, recreation, transportation, essentials, etc. Inflation measures the change in the average price of a basket of goods and services over time. Explanation:- As the demand for goods and services increases, the prices of goods and services increase, and raw materials are used to produce those goods and services. As the demand for a product increases, so does the price of the product. Hence, the correct answer is Option D i.e., fall in the value of currency and rise in the value of commodity

Rise in the price of a commodity means

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