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Price-Hike / Causes of Price Hike (Paragraph / Composition / Essay )

Updated: Feb 23

Paragraph Writing


PRICE-HIKE


A price increase, often seen as an unexpected rise in the cost of everyday necessities, has become a common issue in Bangladesh, steadily worsening over time. This problem can be attributed primarily to market syndicates that manipulate prices. Additionally, some unscrupulous traders deliberately create shortages in essential goods to maximize profits. Other factors contributing to price hikes include natural disasters leading to lower agricultural production, shortages of raw materials, the need for rapid communication, political instability, nationwide inflation, and various other elements.The consequences of rising prices are profound, causing social unrest and putting the lives of ordinary citizens in jeopardy. The cost of essential goods has surged to levels beyond the reach of low-income and fixed-income individuals, affecting the majority of the population. Unfortunately, this problem cannot be resolved overnight.To address this issue effectively, the government should implement both short-term and long-term strategies. Swift action is needed to curb the activities of business syndicates, and measures to control monetary inflation rates must be put in place. Prioritizing the agricultural sector in the annual budget can boost domestic production and stabilize prices. Furthermore, public awareness campaigns should be launched to educate people about the causes and consequences of price hikes. In doing so, steps can be taken to alleviate the burden of rising prices on the people of Bangladesh.



PRICE-HIKE

A price hike refers to an increase in the cost of goods or services, driven by factors like rising production costs, supply shortages, or shifts in market demand. It can have far-reaching consequences, affecting consumers and businesses alike by potentially causing inflation and reducing purchasing power. Nonetheless, it can also signal a robust economy and be necessary for companies to stay profitable. Price hikes can trigger a chain reaction in the economy, leading to higher prices across various sectors. This cycle of inflation can result in an increased cost of living and decreased consumer buying power. For businesses, managing price increases is a delicate balancing act. Overpricing may lead to customer loss and reduced revenue, while underpricing can erode profitability. Moreover, it can invite competition from other firms seeking to undercut prices, making pricing decisions critical. In Bangladesh, the issue of price hikes has become a pressing concern, particularly affecting essential commodities such as rice, oil, and vegetables. The rising cost of living is placing significant strain on ordinary citizens. Several factors contribute to this problem, including surges in fuel and energy prices, leading to higher transportation costs and increased overall expenses. Growing demand for essential goods due to population growth and supply chain disruptions caused by the ongoing pandemic have also played a substantial role in escalating prices. The government has implemented measures to address this issue, such as importing essential items and price controls on specific goods. However, these efforts have had limited success in curbing inflation. Effectively addressing price hikes is crucial to ensure that basic necessities remain affordable for the general populace, representing a significant challenge for both the government and the people of Bangladesh.



PRICE-HIKE

A price hike means that the cost of things and services goes up over time. This happens often in most economies and can occur for many reasons. Usually, a price hike is caused by things like inflation, higher costs to make things, or more people wanting to buy those things or services. The effects of a price hike are felt by many people, including individuals, businesses, and governments. When prices go up, people notice it right away. They have to pay more for things or services they used to get for less money. This can make it harder for them to buy things and might make their lives not as comfortable. Price hikes affect many areas of life, like housing, food, transportation, and education. These are important parts of life, and if their prices go up, it affects a lot of people. Price hikes also affect businesses, especially if they rely on things from other countries or raw materials. For example, if the cost of oil goes up, it costs more to move things around, so the prices of things and services go up. Sometimes, businesses have to pass these extra costs to their customers, and this can mean they sell fewer things. Governments also feel the impact of price hikes. They have to keep the economy stable, and when prices go up, they might need to raise taxes or print more money. This can lead to inflation, where money is worth less, and it can hurt the economy in the long run. Price hikes are a big problem for people, businesses, and governments. It's a complicated issue, and we need to find solutions. Governments need to make policies to control inflation, and businesses need to find ways to make things cheaper. As consumers, we should understand what causes price hikes and be ready for changes in the economy.




Model Answer-2


                                                                                                                                                                                                                               Causes of Price Hike


Several factors contribute to the rise in prices, commonly known as price hikes, in Bangladesh. Firstly, the country's overpopulation strains its ability to produce enough food and other goods to meet the needs of its growing population. This leads to insufficient agricultural and industrial output, which in turn drives prices up. Additionally, natural disasters often disrupt agricultural production, further exacerbating the problem of limited supply. Secondly, collusion among suppliers, sellers, and extortionists, aiming to create artificial shortages, can drive prices higher. When goods are deliberately withheld from the market, their prices naturally increase due to increased demand and limited supply. Furthermore, smuggling and black market activities also contribute to price hikes, as they disrupt the normal flow of goods and inflate prices. Unfortunately, corruption within these networks often goes unpunished, allowing these practices to persist. Thirdly, man-made crises, such as hoarding by unscrupulous individuals seeking to profit from scarcity, can significantly reduce the availability of essential goods in the market, causing prices to soar. Moreover, fluctuations in international markets can impact domestic prices, especially when imports become more expensive due to factors such as currency devaluation or increased demand abroad. Lastly, a lack of governance and awareness also plays a significant role in driving up prices. When there is disorder and a lack of understanding among consumers and policymakers, market inefficiencies and speculative behavior can further fuel price increases. In summary, a combination of overpopulation, natural disasters, collusion, smuggling, international market dynamics, and governance issues contribute to the persistent challenge of price hikes in Bangladesh.


Model Answer-3

Causes and Effects of Price Increases


Bangladesh, a small country facing numerous issues, is currently grappling with a significant problem: the rise in prices. This price increase refers to the uptick in the cost of everyday items. Prices of essential goods are soaring rapidly, becoming a common occurrence in our economy. This issue has affected the entire nation, causing distress among those with fixed or limited incomes. The escalating prices have sparked widespread concern. There are various reasons behind this surge in prices. Firstly, overpopulation contributes significantly to the problem. Additionally, artificial shortages created by unscrupulous businessmen seeking higher profits exacerbate the situation. Factors such as business collusion, smuggling, and corruption further fuel the price hike. Furthermore, fluctuations in the international market also play a role. Moreover, disorder and lack of awareness contribute to the problem. The consequences of the price increase are profound. A large portion of Bangladesh's population lives below the poverty line, and their situation is deteriorating. Many struggle with hunger on a daily basis, and impoverished children are forced to abandon their education. As prices continue to rise, the gap between the rich and the poor widens, impeding the country's overall development. To address this issue, immediate action is necessary. Firstly, efforts should focus on boosting food production. Additionally, measures must be taken to punish dishonest traders and prevent hoarding by profit-driven groups. Political stability is essential for controlling prices. The government should also maintain reserves of essential goods to address any natural disasters and provide subsidies for the poor. Efforts to combat smuggling and black market activities must be intensified. Furthermore, ensuring an ample supply of essential goods is crucial. Ultimately, collective efforts from conscientious citizens are needed to tackle the problem of rising prices.



Cause and effects of Price Hike of Daily Commodities in Bangladesh

Price hike, also known as inflation, happens when the prices of everyday things like food, clothing, and household items go up. In Bangladesh, several factors contribute to this issue, and it has significant causes and effects. One of the primary reasons for a price hike is the law of supply and demand. When many people want something, but there isn't enough of it, the price goes up. This can occur when natural disasters harm crops or when more people want a specific product. Inflation is another cause. When the prices of everything go up, it affects the prices of daily items too. Factors like increased production costs or changes in the value of money can lead to inflation. Additionally, the cost of transportation plays a role. If it's expensive to move things from one place to another, the prices of goods can increase. Sometimes, people manipulate the market by hoarding products or changing prices dishonestly, which can make things more expensive. Price hikes put a strain on people's finances. Everyday things become more expensive, and this can make it tough for families to afford what they need. It also worsens the gap between rich and poor, with lower-income individuals suffering the most. Rising food prices can even lead to hunger and malnutrition. On a broader scale, a continuous increase in prices can disrupt the economy by affecting how much people spend and slowing down economic activity. If prices keep going up, it can cause protests and social unrest as people get frustrated about the rising cost of living.To tackle price hikes in Bangladesh, it's crucial to address the supply chain, control inflation, and prevent market manipulation. The government needs to create policies and support systems for people with lower incomes to help them cope with the increasing cost of living and ensure everyone can afford daily essentials.

 




Composition / Essay Writing

  

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