Topic: How to reduce the price of goods - page 4. (Read 1610 times)

The number of producers are limited and the demand is high and the supply is limited and that is why it is expensive because one part of the market is suffering, if there is a balance between demand and supply then the price will be moderate and much more affordable for people. If anything should affect the price of fuel then every other thing will be affected because of transportation and fuel price is even increasing everywhere so there is still a problem that needs attention. If not attended to then we are not ready to address this issue.

It's sad that politicians will campaign and promise heaven on earth, they will get people's heart and support, later win the election, they will swear to fulfill promises and promise to do their work with dignity, faith, spirit and mind only to come and be playing mind games with the people, they will go there and loot tax that are intended for the public purpose.

Bad leaders are not only a catastrophe to the economy, they completely destroyed the economy and when the next person get there, it becomes a dead tree that will be hard to bring back to life. If he try and the cabals don't agree with him, they become weaker and loot more from the national reserve. God have mercy on politicians. 

I agree with your statement. The market doesn't seem centralized. Although I'm not in the agricultural sector, but from my observations, money can set up a very large farm able to supply huge amount of food to the society. They're still cheap foods. Increase in demand increase in price. Decrease in demand decrease in price. Decrease in price increase in demand. The market is controlled by the buyers and sellers using price as a tool. The expensive foods, are most served food in the country. Almost every household or restaurant must serve or eat such food. Rice is common in Africa and the price keeps increasing. Foods like cocoyam is not quite common and not served in most households. That makes it cheaper than rice. The money used in purchasing a bag of rice can purchase a whole lot of cocoyam. I'd say that the perishable foods are cheaper than non perishable foods. Due to the low supply of electricity in some parts of Africa. They cannot preserve perishable goods that's why they go for non perishable goods like rice. Thereby increasing the price of such foods; rice, beans, garri etc. Since, these foods are going back to a diminishing return, due to much farmers and consumers focusing mainly on such food. Its production gets difficult, and Africans hardly get a diminishing return on a utility. They'll never get tired of eating rice. Hence, if they'll want to reduce the price of a commodity like rice. A good number of the citizens should stop eating rice. The price is controlled by the seller and the buyer. Not just the seller. The buyer can decide to give the utility a break. Such can't be found, in some food. If people get encouraged to eat some extincted foods, they'll still get them cheaper. Perishable foods like Potatoes sell for a very cheap amount because the production is higher than the demand. The problem with the people is that they've given all authority to the government, that they forget to figure out their roles in changing the society.

The government can take action against distributors who manipulate food prices, the government even has to subsidize food prices for the poor, if the government is pro-people it will try to eradicate distributors who are protected by corrupt officials. However, Nigeria is not the only country experiencing this problem, many other countries are extorting people, they are raising fuel prices and food prices. Many high-ranking officials own companies, they will set up companies for sole production and make it difficult to grant permits to other companies to eliminate market competitors.

The main key to overcoming the problems above lies in the leaders, so that every election we must be careful in selecting leaders to carry out the mandate to lead the next 5 years, with the hope that there will be pro-people leaders throughout the world and people's lives will be prosperous.

The price of food rises due to some factors which also include the fuel factor. So, the government doesn't want food subsidies and removes them. In this way, the price of food increases in a country. Also, the wars between different countries affect it, and as we have seen in the Russia and Ukraine wars, we can say this would be also a factor affecting the food prices.

Another thing is the interior system of a country and the political issues in the country. So, the political crises between politicians also affect the interior prices in a country, whether that is food prices or that is other different things prices in a country. As the competition is going more and more day by day, it would be difficult to maintain all these situations.

Hard to combat this activities done by certain corporation especially if they have connections from those corrupt politicians since we cannot really see this solve since everything will be manipulated in favor on their side. Maybe the only thing we can do for us not to get affected for the price rise of certain goods is to find another source that can generate us an income. Other option which need proper cooperation by citizens is to select those good leaders that cannot be easily manipulated by oligarch since maybe they can do a counter actions towards the economic abuse made by those greedy businessman.

We know that this is a problem on almost all of countries so we need good leaders here to step up, if we always put those people who's not fit in the position then I guess this current cycle will remain the same and we can't see any good changes on our economy, also low income earners will get badly hit for those unwanted actions that they possibly planning to do.

On business side we can see big companies buying successful businesses of their competitors and they do that just to eliminate these people and make their business alive. This actions should be forbidden by the law since this is how monopoly of goods and services starts.

It depends mate, if it's the same in Nigeria then it is not good. The monopolies can set the price, they make life difficult for the consumers. The government should make a move and not let it have a single distributor to avoid the current market situation in Nigeria. This becomes the main reason why they set the price as they want as they are the only ones who can give supply to the mass.

If the government establishes multiple sellers and does not let a single one set the price and keeps on raising the price, then that will start a competition, there will be different pricing and marketing efforts, and competing at the lowest price in the market will start.

There would always be Monopoly and there is nothing that anyone can do about it. Monopoly in itself is not bad as it helps to balance out all the aspects of the economy. Other parts of the economy should develop as fast as Monopoly can it will give it. For a particular product that has been monopolized there's always a better option out there or a better way to bring down that one. Monopoly would help it competitors to be able to think outside the box and use innovative strategies to win the market favourite

You have a point there, mate. As long as money and power rule the world, greed and corruption will always exist in every person and every government. What you said reminds me of presidential elections in the United States, where politicians also raise money for their presidential campaigns and the person who receives the most donations has a chance to win higher. Money is something that is ingrained in our blood, so it will be difficult to find people who do not put money first and think of the interests of everyone. We can do nothing but accept and adapt.

In the country I live in, corruption has been a constant thing to deal with. During elections, people will often side with political candidates who promise a good government with no stain of corruption and it will seem as if the people will believe that they are the ones who often win and get the position. However, we all know that that's not how it usually goes, deep down all of us have a silent understanding that no matter who wins there will still be corruption present. Hence, the only thing we can do is to vote for the one who is more likely to at least still do their job right and have at least an ounce of care for the country and its people.

Essentially, if you have no choice but to choose between two corrupt candidates, choose the one who at least knows what their responsibility is and is doing their job rather than the one who only gets the money and have no care of their responsibilities.

I think this is something that is done by the governments of each country, including in my country too. However, recipients of subsidies and assistance from the government must also use the assistance where they need it, lest they use it for other things or sell it for money. Because the intention of the government to help them as poor people is to run their business smoothly so that they can continue to produce harvests from their own agriculture so they also have to look after it well for their own lives.

Bad activities should actually be eliminated if the government still really cares about the welfare of its people. Because the government, apart from having to be able to create good potential for its people, must also be able to maintain every activity that is good for its people and continue to follow up on activities that are not good for agriculture and its people.

That shows signs of a greedy and corrupt government. You don't just take something that has to do with a whole nation and give it all to one person to control, it's very bad. They are just filling their pockets and making things hard for the poor masses.

Why would anyone expect politicians to be any different in a world where money and power are in charge? Votes may count in nations with robust legal systems, for sure. But let's face it, in many situations, it comes down to who has bigger resources and a stronger hand

What if all politicians are dishonest and only differ in acting ability? Perhaps the people we believe to be sincere are simply better at acting sincere. Who do you choose when the entire system is completely corrupt? one of two options is better? Or do you simply throw in the towel and concede that politics is nothing more than a game in which the house always prevails?

I think what you said above is also true, where farmers or those who work in other sectors also really hope for an active role from the government in providing financial support in the form of subsidies and equipment assistance to encourage their businesses and efforts so that they do not decline. works in place and is sustainable in the long term.

Monopoly activities are indeed illegal and unhealthy, but there are also negative impacts that are also felt indirectly, namely the potential loss of jobs in the process, which is exactly the same as what @Text means if I look at it from that point of view.

Politicians always come to power by popular vote, but this is not the case in all countries. In a country where the law and justice system is strong, people's opinions and votes are valued, but where there is no such thing as justice and law, politicians come to power on the basis of power and wealth instead of votes. In some countries, politicians are elected through various rigging methods. In such a case you will see many infamous politicians who are hated by the people, but are in power, because they are more powerful than the law.

How can the people find an honest politician in a country where the purpose of politics is to do corruption and the purpose of politics is to steal people's money. When the whole system is corrupt then who will you vote for, of course you have to vote for one of these corrupt politicians, because these corrupt people never allow honest people to come to power.

However, government should support farmers with the necessary and basic equipment, the government have a big role to play.
Organizing entrepreneurship programms, teaching people on how to start little business, organizing serminer programs for farmers on how to take care of their crops such as plantain farm, yam farming and how to rear chickens, fish, because I believe agricultural can play a viltal role in stopping inflation

There are many corrupt leaders in the world that are exploiting the natural resources of their country.
It's just sad that because of them, instead of having a great progress to make their countries being a developing country going to being a first world.
There's a delay why it happens, reducing the price of goods is like a dream come true that's not going to happen with these type of leaders.

All the politicians who have led us and are still leading us, were chosen that way, no one can be stupid enough to vote for a leader we hate or think is harmful to the country. And governments have changed through many presidents, but until now, what people have always said about the government is that it is corrupt, selfish and does not bring any benefit to the people. I have not seen anyone spreading good things about the government and thanking their government. I believe those are the same leaders we elected. I believe you have voted many times for politicians you trust, but are you satisfied with your vote?

Unfortunatelly when the good in question is food, it's hard to apply law of supply and demand rationally. Everyone needs food to survive in a matter of every few hours, at least. Therefore, there is a constant unstoppable demand for it. Moreover, it's not that simple to produce your own food if you don't have the necessary tools and enough space, besides having a central authority controlling the flux of food coming in and out, so the supply is really limited. This is the recipe for disaster, and unless citizens find a creative way to bypass the government's overcontrol, there is nothing to do besides paying a high price to survive or starving till death.

Law of supply and demand is the first thing that would come to mind when talking about the price of stuff. If you want to cheapen things out, especially commodities like food items and perishables, you gotta make them or produce them more than what you would normally. This would create a surplus supply, and in order to make sure it sells out you'd drop the price of the goods which will be great for the people. Another would be the price of oil. Should we find a way to effectively rollback the price of oil and fuel, logistics wouldn't be so expensive anymore which is also one of the primary factors why produce is so expensive, with a cheaper transportation fee, vendors can sell these goods at a cheaper rate.