Q. 33.7( 3 Votes )

In what ways producer create artificial scarcity?

Answer :

Producers create the artificial scarcity in the way of black marketing and hoarding. The term "hoarding" may include the practice of obtaining and holding resources to create artificial scarcity, thus reducing the supply, to increase the price, so that they can be sold to customers for profit. Black marketing is market place which takes place outside government-sanctioned channel.

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