Agricultural goods are exceptions to the law of supply. It is because supply of agricultural goods almost depend on nature i.e. monsoon. Therefore it cannot be adjusted with the change in price. Even if prices are rises or fall we cannot increase or decrease it. Therefore is correctly said that the agricultural goods are exceptions to the law of supply.
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Question
Give reasons or Explain the following statements. (Any Three)
Agricultural goods are exceptions to the law of supply.
Short Note
Solution
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