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Chapter 4 : Inflation
a year ago
I have a doubt, with increase in price demand decreases and with decrease in price demand increases. But suppose there is an article in a shop just one article which is absolutely not in demand or not required by general public, but if on some random day one customer asked for the article, shopkeeper keep its price as original sometimes elevated too. Logically shopkeeper must sell it out to the customer as atleast he got a customer for that product and its better to sell it to get some money instead of keeping in shop having no value of it. Why do he ( the shopkeeper) sell it to higher price as there is no demand of it or the article is absolute? And under what category would it come under?