Price cap and regulation has it advantage and disadvantages in businesses , but it is a fact that the advantages outweighs the disadvantages in many ways, because lack of price cap and regulation have lead to so many exploitation, unfair treatment and regretful feelings to consumers and also affected little businesses.
Price cap and regulation is a shield to customers/consumers, who are ignorant about the production cost of a particular goods.
Price cap and regulation is a good thing, and should be compulsory in every country, because it protects and shield buyers, gives them the maximum price to purchase a particular goods .
In a world where exploitation and greed is the order of the day in businesses, there's a need for regulating a price and giving a fixed maximum price.
Price cap and regulation creates a fair relationship between the buyer and seller, it makes prices of goods more reachable and affordable for everyone who wants to purchase.
In most cases, after the exploitation in price, this sellers still sell goods with less and inferior quality to consumers and it's really painful, I have had this experience and I believe many of us have been in situations where we got a goods or products, higher than the original price and at the end these goods purchased has an inferior quality. It's usually a painful situation, that comes with regrets .
Considering the high rate of business exploitation by individuals in most countries , I believe there should be an agency that regulate the prices of goods, give a maximum amount a particular goods should be sold out in the market by all seller.
This would be done by, creating an open space, where the cost of their goods and how much gain they should make, would be discussed and a price would be fixed , an investigation into the cost of a particular goods is necessary and there should be a fixed price for everyone selling.
This doesn't mean there would be less gain for business owners, but these agency would be created for customers/consumers to not feel exploited or cheated.
Most individuals while fixing the price of their goods without investigation, add higher cost , and tend sell far above the cost price, or the amount they purchased the goods.
I'm not against making gains, but being greedy all because you need to make a profit that's times three higher than the cost price is an act of exploitation and greed and it should be condemned too.
For inflation of price to reduce, there have to be a regulated price and a check on sellers.
The control of price by buyers is one of the major causes of regular inflation of goods, because individuals tend to add excessive profits to their goods, without considering the buyers which is extremely bad.
Prices should be regulated strictly to protect every buyer and consumer , one of the major causes of poverty and major crisis in little businesses is inflation and when we do not have a regulated price of goods, especially imported goods, it leads to inflation, also leads to a problem in the countries economy .
Regulating the prices of goods, will also promote trust and create a transparent business deal for both buyers and sellers , makes accountability and understanding easy for the buyer and seller .
Thanks for reading 鈾ワ笍
