Question
The global demand for electric vehicles (EVs) has been
steadily increasing due to growing environmental concerns and government incentives. However, the supply of lithium-ion batteries, a crucial component of EVs, has been facing constraints due to limited production capacity and supply chain disruptions. In this scenario, what is the most likely impact on the equilibrium price and quantity of EVs in the short run?Solution
The increase in demand for EVs coupled with the limited supply of batteries will create a shortage in the market. This shortage will drive up the price of EVs. However, the impact on quantity is uncertain as it depends on the extent of the supply constraints and the responsiveness of demand to the price increase.
What does GMP stand for under FSSAI’s hygiene regulations?
What does the acronym SPS stand for in WTO trade terminology?
The branch of biology that deals with the heredity and variation of organisms. Who is known as father of genetics.
Which WTO agreement addresses the protection of human, animal, and plant health?
Which of the following is a natural insect repellent allowed in organic farming?
Under the FSS Regulations 2011, which body is primarily responsible for drafting standards and enforcing food safety across the food chain?
Which category of food operators requires mandatory pre-shipment inspection under EIC regulations?
Which online portal is used for FSSAI license application and compliance?
A system in which forest trees are grown along with agricultural crops and grasses on the same land at the same time is known as ____
Which online platform is used by APEDA to monitor and ensure traceability in the organic products supply chain?
