ECONOMICS (CBSE/UGC NET)

ECONOMICS

DEMAND

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The price of Clif Bars increases. What happens to the market for Powerbars?
A
Demand increases
B
Demand decreases
C
Supply increases
D
Supply decreases
Explanation: 

Detailed explanation-1: -Report Summary. The global protein bar market was valued at USD 4.55 billion in 2021 and is expected to grow at a CAGR of 6.15% during the forecast period.

Detailed explanation-2: -The global energy bar market size was valued at USD 668 million in 2021, which is envisioned to grow at a CAGR of 6.65% and reach USD 1.11 billion during the forecast period. An energy bar is a nutritious snack with nutritional ingredients that boost energy and endurance.

Detailed explanation-3: -The law of demand states that a higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded. Demand curves and demand schedules are tools used to summarize the relationship between quantity demanded and price.

Detailed explanation-4: -What are the benefits of a CLIF BAR? CLIF BARs contain enough carbohydrates to help provide energy for exercise and protein to help with muscle recovery after a workout. The carbohydrates within the bars also help fuel muscles and replenish glycogen stores.

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