Question Description
Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer?.

Solutions for Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following best describes the concept of “Shrinkflation”?a)Decrease in the rate of inflation after remaining high for a long time.b)Strategy used by the companies during inflation, wherein the companies reduce the size of the product, rather than increasing its price.c)Decrease in the demand of goods and services due to higher inflation.d)Effect of higher inflation on the GDP, wherein the GDP starts contracting.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.