Logical Reasoning - Statement and Conclusion - Discussion

Discussion Forum : Statement and Conclusion - Section 1 (Q.No. 25)
Directions to Solve

In each question below is given a statement followed by two conclusions numbered I and II. You have to assume everything in the statement to be true, then consider the two conclusions together and decide which of them logically follows beyond a reasonable doubt from the information given in the statement.

Give answer:

  • (A) If only conclusion I follows
  • (B) If only conclusion II follows
  • (C) If either I or II follows
  • (D) If neither I nor II follows and
  • (E) If both I and II follow.


25.

Statements: Vegetable prices are soaring in the market.

Conclusions:

  1. Vegetables are becoming a rare commodity.
  2. People cannot eat vegetables.
Only conclusion I follows
Only conclusion II follows
Either I or II follows
Neither I nor II follows
Both I and II follow
Answer: Option
Explanation:
The availability of vegetables is not mentioned in the given statement. So, I does not follow Also, II is not directly related to the statement and so it also does not follow.
Discussion:
26 comments Page 1 of 3.

Marge Inovera said:   6 years ago
Economies are always affected by political (e.g Corruption, Ujjwal mentioned, non-capitalist poltical economies), socio-cultural (fads), and regional (high avg socioeconomic status in a locality) factors that could impact price. While this would be consistent with given correct answer, the question leaves something to be desired because this level of analysis is sophisticated and non-intuitive for anybody familiar with a law (supply vs Demand) so fundamental to market economics as to be virtually mathematical in its logic.

Jellydonut said:   1 decade ago
Economically speaking, a lack of quantity drives up price. In fact logically reasoning can you think of a single other way in which prices would soar?

Producers of goods experience this in the market today. If the lobster harvest in Maine is too much, the market price bottoms out and no one makes any money.

Similarly if there is a shortage of supply prices soar.

It is highly likely that most economics majors will get this question wrong because to them, me, it is illogical.

Kevin said:   5 years ago
I think the reason Answer I does not follow is that "soar" and "rare" are not definitive. If the prices "soar" it doesn't necessarily mean vegetables are unobtainable. If vegetables are "rare" it doesn't mean that every vegetable will be auctioned off among the billionaires. (Bill Gates and Warren Buffett playing poker to win the last carrot on Earth would be funny!).

Daud said:   8 years ago
I think statement 1 follow because it says that vegetable price raising. I think vegetable price raising when it's stoke is very short or production very short in this reason I can say 1 is follow because if people can't eat vegetable as a result of it vegetable stoke getting huge henceforth price getting down. Why price getting up?

Ujjwal said:   1 decade ago
Actually I did give it a thought but it just hit me tht 'prices soaring' can b due to less production of veggies or maybe corruption. I have heard more than enuf cases on it. Whereas people can not eat also implies that they are suffering from some problem or some other thing of that sort. Diseases.

So D is correct!

Pinku said:   1 decade ago
Vegetable prices are soaring all the time in Delhi. This not in anyway refer to the fact that people can't have them as the degree of price hike or the way its affecting society is not mentioned. Although as the price is hiking its becoming a rare commodity. So clearly option 1 only follows.

Sanjay said:   1 decade ago
Obviously first follows, why to breakup which vegetables. As per statement to be considered true then doesn't matter which vegetables so because of less supply and demand it rare commodity. But still available in market and those who affording can eat then so II doesn't follow.

Rameshwar said:   1 decade ago
Vegetables are becoming a rare commodity----may be because of increase in population

People cannot eat vegetables.-----can't be said because some people can afford to eat highly priced vegetables where some people can't so
I and II are both are doubtful statements

Gunasekaran said:   9 years ago
Definitely say only first assumption is correct. Because vegetables are rare commodity. When demand increases it is a rare commodity. When demand increases the price also increase. (vegetables are soaring in the market).

Ajit bone said:   8 years ago
If vegetables are much quantity available in market then purchaser are in less numbers, automatically it's prices are become very low. The same vice verse, that implicit I is correct.


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