Prices of food articles are increasing day by day and there is a wide gap between wholesale prices and retail prices. The common man is suffering. The government is trying to control the prices. Write an article in 100-120 words on `Rising Prices‘ and give suggestions on how to control them. You may use the hints given below:
Hints : (40 percent below the poverty line, incomes of lower middle class very low, prices of food articles risen high, difficult to make both ends meet; steps were taken by the government; causes of rising prices; your suggestions).
Ans. Rising Prices
What we can find as a major roadblock for our country’s economic progress are the rising prices. Almost every consumer-oriented commodity like food articles is now high in cost. The essential goods that we need for our day to day survival are increasing in price every week/ month. Milk, fruits vegetables, groceries and grains which we need every day are so high in price that there is no question of buying or even thinking of buying more of the goods. There is a wide gap in the prices between the wholesale and the retail market. Indeed the fact is that neither the producer nor the consumer benefits, in the end, thanks to the middlemen whose f business is thriving.
In such a condition, we find it difficult to make both ends meet. The income of the lower middle class is very low to meet the minimum expenses of the family. If this is so, then the condition of the poor is still pathetic. With 40% of poverty in our country below the poverty line, we can say that almost half the population remains hungry for the most part of the day. In spite of government subsidies to farmers. Poverty still prevails and the prices of food articles remain high. The government should take a middle course wherein both produce and the consumer benefit, while the middlemen should not be the sole beneficiaries.
Article on Rising Prices in 100 Words
Rising prices is one of the most common problems that people face today. It is becoming difficult for people to manage their daily expenses within their monthly incomes. The main reason behind this problem is the inflation which has been constantly increasing over the past few years. Prices of goods and services are increasing at a faster rate than the incomes of people.
There are various reasons behind this inflationary trend in India. One of the major reasons is the increase in crude oil prices. Due to increase in crude oil prices, the transportation cost has also increased which has led to an overall increase in the prices of goods and services. Another reason for inflation is the ever-increasing population of India.
Article on Rising Prices in 150 Words
Rising prices are one of the most common economic problems people face today. The cost of living is constantly increasing, but wages remain stagnant. This means that people have less and less money to spend on essentials like food and shelter. Rising prices are a major cause of poverty and inequality. When the cost of living goes up, but incomes don’t, it hits the poorest people the hardest. This can lead to a spiral of debt and despair, as people are forced to cut back on basics like food and healthcare.
There are several reasons why prices keep rising. One is simply that the demand for goods and services keeps increasing, while the supply remains static. This puts upward pressure on prices. Another reason is that businesses may be trying to increase their profits by charging more for their products or services. Governments can take steps to help reduce the impact of rising prices on people’s lives.
Article on Rising Prices in 500 + Words
Prices are on the rise, but why? This essay will explore the underlying causes of rising prices and offer some solutions to this problem. We are all Feeling It: The Impact of Rising Prices Rising prices is a topic that impacts us all. Whether we are buying gas for our car, groceries for our household, or clothes for our wardrobe, we can all feel the pinch when prices go up. But why do prices rise? Is it just greedy businesses trying to make more money?
While business do play a role in setting prices, there are several underlying factors that contribute to rising prices. In this essay, we will explore some of these causes and offer some potential solutions to the problem of rising prices.
What are the causes of rising prices?
1. Increasing demand: As the world population continues to grow, the demand for goods and services increases, leading to higher prices.
2. Limited supply: When there is only a limited supply of a good or service, prices will rise to ration that scarce resource.
3. Inflation: Rising prices are often caused by inflation, which is when the money supply decreases in value, leading to more expensive goods and services.
4. Economic growth: When an economy is growing rapidly, businesses often raise prices to keep up with the increased demand for their products and services.
5. Exchange rates: A country’s currency can become valuable relative to other currencies, leading to higher or lower prices for goods and services purchased in that currency.
6. Energy costs: Rising energy costs can lead to higher prices for goods and services as businesses pass on these increased costs to consumers.
7. Transportation costs: Higher transportation costs can also lead to higher prices as businesses pass on these increased costs to consumers.
8. Raw materials costs: If the cost of raw materials increases, this will often be passed on to consumers in the form of higher prices.
9. Tax changes: Changes in tax rates can impact the price of goods and services, as businesses pass on the increased taxes to consumers in the form of higher prices.
10. Government subsidies: The withdrawal of government subsidies can lead to higher prices
The Effect of Rising Prices on People’s Lives
Rising prices have several effects on people’s lives.
Here are 7 of the most significant:
1. Increased cost of living: When prices go up, the cost of living also rises. This puts pressure on families, particularly those on low or fixed incomes, as they struggle to make ends meet.
2. Inflation: Rising prices can lead to inflation, which in turn erodes the value of people’s savings and earnings. This can be a particular problem for retirees and other people on fixed incomes.
3. Reduced purchasing power: As prices increase, people’s purchasing power is reduced. This means that they can’t buy as much with their money, which can impact their standard of living.
4. Wages don’t keep up: In many cases, wages don’t rise at the same rate as prices. This means that people’s earnings don’t keep pace with the cost of living, putting them under financial pressure.
5. Job losses: When industries are hit by rising prices, it can lead to job losses as companies look to cut costs. This can have a devastating impact on people’s lives, leaving them unemployed and struggling to make ends meet.
6. Business closures: Rising costs can also force businesses to close down, leading to even more job losses and further economic hardship for those affected.
7. Social unrest: When people are struggling to make ends meet, it can lead to social unrest.
The measures taken to control rising prices
1. The government has imposed a ceiling on the prices of essential commodities.
2. The government has also decided to release additional supplies of essential commodities to the market.
3. The government has also banned the hoarding of essential commodities.
4. The government has also fixed the wholesale and retail prices of essential commodities.
5. The government has also introduced a system of rationing for essential commodities.
6. The government has also taken steps to improve the supply situation of essential commodities.
7. The government has also taken measures to control the speculation in essential commodities.
8. The government has also taken measures to check the black marketing of essential commodities.
9. The government has also launched a campaign to create awareness among people about the need to conserve essential commodities.
10. The government has also taken steps to encourage production of essential commodities.
People Also Ask :
1.What are the reasons of price rise?
Ans : There are multiple reasons for the price rise. One reason is that the demand for certain products has increased. For example, the demand for smartphones has increased, which has led to a rise in the prices of smartphones. Another reason is that the costs of producing a product have gone up. For example, the cost of cotton has gone up, which has led to a rise in the prices of shirts.
2. What are the effects of rising prices?
Ans : Rising prices have a number of effects on society as a whole. Firstly, they can cause people to lose out financially, as they are unable to afford the increased prices. Secondly, they can lead to people becoming less productive as they have to economize on their spending. Finally, they can lead to social tensions as people become angry about the increase in prices.
3. What is rise in price?
Ans : Rise in price is an increase in the cost of goods and services. This may be due to factors such as inflation, a shortage of goods, or changes in taxation.