Explain black marketing' as a direct Entre consequence of price c… - Vidyadip

Question

Explain black marketing' as a direct Entre consequence of price ceiling.

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Answer

Black marketing may be termed as a direct consequence of price ceiling.
Black market is a market under which the commodity is bought and Sold at a price higher than the maximum fixed by the Government.
It arises due to presence of consumers who may be willing to pay higher price for the commodity than to go without it.

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