1. In many countries today, everyday necessities like food and petrol have become very expensive. What factors may have caused this situation and what, in your opinion, can/should be done about it?Give reasons for your answer and include any relevant examples from your own knowledge or experience.
In many parts of the world, the
prices
of basic necessities such
as food and oil have increased. There are several factors that cause this
type of inflation, and new technologies and innovative ideas to change our current systems are feasible solutions for dealing with it.
To begin
with, the increase in stages of supply chains and the depletion of raw materials are two main reasons for the rising prices
of bare necessities. For a start, production costs
are bound to be higher when there are more steps involved in the manufacturing, distribution, and sale of goods
. This
is because there are considerable costs
that need to be taken into account when setting the price of consumer items, including equipment and labour costs
. Furthermore
, there is a shortage of important materials necessary for producing essential products, which contributes to ever-rising costs
. Petroleum is a prime example. This
substance is vital for making many modern, everyday items, such
as plastics and petrol. Consequently
, its use has skyrocketed, but the world's reserves of this
resource have been declining, resulting in its growth in value. Thus
, additional steps in the supply chain and depleted natural resources are largely to blame for the increasing prices
of staple goods
.
Even though these problems seem impossible to eradicate, technological developments and more efficient approaches to marketing may prevail. Firstly
, novel machines can curb inflation. For instance
, when steam engines were invented, transport expenses were greatly reduced since they could carry an enormous amount of goods
at once. As this
example proves, an innovative device or piece of machinery could produce similar results now. Secondly
, improvements to existing marketing methods may slow down the continuing rise of the costs
of necessities. In order to provide customers with competitive prices
, many companies have already abandoned some costly marketing strategies in favour of cheaper but more effective ones, like using online marketing instead
of expensive celebrity endorsements. Companies can pass on these savings to the customer in the form of affordable prices
. Therefore
, technological innovations and cost-effective marketing alternatives can help to keep the prices
of daily essentials under control.
In conclusion, inflation is fueled by the long journeys that goods
take to get to consumers and decreasing
stores of raw materials. Correct article usage
the decreasing
Although
these are difficult issues to tackle, advances in technology and greater efficiency in marketing could make necessary items more affordable.Submitted by dewifarraprasasya on
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