It's another beautiful new week. I'm grateful to be part of the participants for this edition. It's been a wonderful moment throughout last week. For this week is more of a business inclined theme about prices.
There is a global shaking in the economy right now especially in my dear country Nigeria where is flooded with divers business tycoon. The theme for this discussion say price range as to whether the government should regulate it or should it be at the mercy of the producers or business owner inflate their prices? I think this is a timely topic that affects virtually most of us today. I don't own a business now but that doesn't neglect the fact that something can be done to bring succour to everyone.
Price range has been a challenging factor over the years especially in my area. This has affected lots of families and other small scale businesses. When there is no price control, every business owner can just inflate price that he or she likes which would affect the stability of market. Price control is an important factor that must be put in place for maintaining good business atmosphere.
Let me share an experience that just occurred not up to a week now. My wife went to the market to buy some stuff. We made a budget based on the prices of things we bought about two to three weeks ago. It was quite unfortunate when she got there, the price changed with a wide margin. This apparently affected our budget which made her not to proceed with the transaction again. After a thorough consideration on reasons why the sudden change it was said that the business owners decided to inflate the price so that they can make more gains in the market. I decided to tagged this as selfishness because business owners don't care about how the customers feel and survive especially the peasant farmers. How would you invest so much in chemicals and fertilizer at the end don't recover even your capital how would the business continue?
With all the incessant dwindling of prices, it's expedient that the government step in to combat this outrageous price issues. There should be regulations on prices of things and no business owner should just sit down and postulate a price. Prices should be regulated to avoid unnecessary increase in prices. When prices are regulated, it would create a good premise for sustainable business atmosphere.
Prices should be regulated in order to protect some customers from undue exploitation. There are some business owners that like taking advantage for instance during crises, war, or natural disaster. You'll noticed that prices just shoot up just like that. When prices are regulated, there are some essential goods will be affordable for common man to buy and enjoy.
In as much as prices should be controlled, that should not completely eliminate the rights and privileges of business owners. They should be given the opportunity to manage prices of things but not in an exploited way. In everything there should be balanced but it will be better if regulation is placed.
Thanks.
Price control should also cut business owners some slack so they don't run on losses.
It's true
There should be policies to help regulate prices.
You're right
Congratulations @fasacity! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 66000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOP