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. In my opinion, 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.

This

essay will explain the reason why

this

phenomenon occurred and give relevant examples.

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

Correct article usage

the decreasing

show examples

stores of raw materials.

Although

these are difficult issues to tackle, advances in technology and greater efficiency in marketing could make necessary items more affordable.