Question

Identify and explain the concept from the given illustration:

Mahesh supplied (sold) more fruits at a comparatively low price due to the perishable nature of fruits.

Answer 1

• Identified concept: Perishable goods as an exception to the Law of Supply.
• Explanation of concept: Perishable commodities, such as fruits and flowers, cannot be preserved for an extended period of time. As a result, marketers sell perishable commodities in larger numbers, even at a lower price, after a certain time to avoid potential loss. As a result, an inverse relationship is discovered between the price of perishable items and their supply. As a result, perishable items are treated as an exception to the Law of Supply.