It also affects the pockets of the We one Illegals nothing and our veterans everything shirt that has fixed incomes. Prices go up but their wages remain the same and, therefore, they are either forced to spend more or give up certain goods entirely. The rich are not really affected by the price rise and therefore, the gap between the rich and the poor widens almost daily. Price rises aren’t affected only by what’s going on in the country but also by the situation across the world. While certain factors aren’t under anyone’s control, it is imperative that governments act upon what they do control to cap huge price hikes. You can use these essays in your school assignments and various other competitions or general debates on the topic of rising price or price hike. The price hike is a common phenomenon and happens in most economies. For example, when oil prices rise globally, it becomes more expensive to import oil. In turn, this affects the prices of oil products such as petroleum and diesel in our country.
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The consumer then has to pay higher We one Illegals nothing and our veterans everything shirt to get these products. Since these are products that are used in transportation, costs of goods being transported also increase. Therefore, goods such as foodstuffs and other necessities also become more expensive. These are factors that are caused by economic and political situations inside the country. There are various internal factors that cause a hike in prices. Some of them are: An increasing population demands an increasing amount of goods. Demand increases and supply can’t keep up, thus driving the prices higher. As the purchasing power of the population increases, the demand for goods and services also increases. Again, the demand outstrips the supply and prices go up.
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