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We go to the store to buy something, and the only thing that comes out of our mouths is how expensive it has become. A packet of biscuits, which used to be available in large quantities a few years ago, has now become almost half its price. This is a form of price hike that companies use to maximize profits. You may have noticed that the prices of items that were once available a few years ago have now almost doubled.
This is where price control comes into play. Price control is crucial because it can often have a profound impact on even your basic needs. You may have noticed that medicines that used to be available for very little a few years ago now cost more. The prices of almost everything have become much higher than before. Even the prices of our basic necessities have increased significantly. If this continues, a time will come when purchasing these items will become difficult, especially for those with very low incomes. Some companies want to monopolize the market so they can dictate the prices of goods. If a company establishes a monopoly in the market, it can dictate the prices of its products. If a company's monopoly continues, it could lead to significant market irregularities, forcing people to pay more for their products. This can cause significant inconvenience to many people, and their monthly expenses could increase.
I'll share an experience with you that will demonstrate the importance of setting price ranges for products. Internet has become a vital necessity for us today, and no one can begin their lives without it, and there won't be a day without it. Some time ago, the price of internet packs was reasonable and affordable for everyone. However, recently, these network companies increased the price of their plans, resulting in significantly higher prices. This angered many, but no one could do anything. There are only two private companies providing services, and there's also a government company, but its network service is very poor, resulting in very few customers. Here, the government should also improve things a bit so that a common man can buy the things he needs at an affordable price. Otherwise, if a monopoly game starts in the price range of any item, then its price starts increasing very much and then the poor families face the most problems because it is difficult for them to afford those things. You can also increase the prices of luxury items, but the prices of basic necessities should be fixed and their prices should not be increased much because these are the things which are very essential for every person.
The government should issue orders and regulations to these companies so that they have to think twice before increasing their price range because only if it interferes in fixing the price range, some changes can be made and the arbitrariness of these companies can be curbed. If any company is increasing the price of its product, then it should tell the government the reasons behind this increase and if the government feels that this is a valid reason, only then should it increase the price of the product, otherwise there is no need to increase the price of any product. Special monitoring should be done on those companies which manufacture things which are the basic needs of the human being.
Thanks for reading my post till the end.
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STOPPrice control is a very important thing, but when you look at it from the perspective of a business owner, I don't really think it's really important. This is business and every can make a choice of what they want to buy.
I am talking about the things that are a person's basic needs, their prices should not increase too much because not everyone earns enough to buy luxury items, some people earn just enough to make ends meet. It is important to fix a price range for such people.