With price inflation, where there is a scarcity of supply, there is usually an increase in the price of that consumer good or service.

Name: With price inflation, where there is a scarcity of supply, there is usually an increase in the price of that consumer good or service.
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Question

Quizplus · Accepted Answer

When there is a scarcity of supply for a consumer good or service, the demand often remains constant or increases, leading to price inflation as suppliers can charge more due to the limited availability of the product or service.

With Price Inflation, Where There Is a Scarcity of Supply