1)To analyst, Indian industry will be able to take advantage through offering products at low prices
Concept- Law of Demand
When the price of Indian Industry product decreases then the Demand of Indian Industry product increases so as analyst I can't say this concept is known as Law of Demand.
2)Many star hotels routinely offer unlimited buffet meals
Concept- Incentives
When star hotels are offering routinely unlimited buffet meals to the people, then people will get highly affected with this offer and respond respond positively when Sachin meaning of a to them,by paying small amount of money and enjoying the unlimited offered, this I the concept of incentives.
3)We often see keen interest specially among young men and women to participate in fashion shows
Concept- Induced Obsolescence
We often see keen interest specially among young men and women to participate in fashion show as fashion industry changes time to time. Consumer has their own taste and preference which vary in time this is the concept of induced Obsolescence.
4)Increase usage of combination of skilled labour and Technology is believed to result in increased output in manufacturing industries
Concept- Increasing return to scales
Increase usage of combination of skilled labour and Technology is believed to result in increased output in manufacturing industries.A change in rate of input will increase rate of output more than proportional. This is called increasing return to scales.
5)Often unseasonal price fluctuations are observed in case of fruits
Concept- Price mechanism
Often unseasonal price fluctuations are observed in case of fruits. Since price mechanisms control the price of goods and services and also their demand and supply , hence less supply increases their price in market.
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