Don't let the trader dictate the prices of goods

[Alexandoy]

In the farm products there is usually the trader who buys the harvest from the farm and to delivery the goods directly to the sellers (usually in the market or the supermarket). The trader is the supplier that dictates the prices. When the farm would not sell because the offered price by the trader is low then it would be a problem because the farm harvest will be spoiled in 2 days. In short, the farmer has no choice but to sell at the low price of the trader. In the market, the same scenario happens that the trader again would dictate the price. If the vendor would not buy from the trader then he would have nothing to sell for the day.

If you are dependent on 1 supplier then you can be controlled because you are monopolized by your supplier. That is one reason why you need to have several suppliers for your merchandise so that you have the liberty to choose the supplier. If the price is high then you check on the other suppliers and you place the order to the supplier with the lowest price offered. Most of the supermarkets here have several suppliers and we know the reason why.

 

[Kingsley]

Well I don't entirely agree with you that the customer can determine or dictate the price of products or services at all the time, what determines prices of goods and services will vary from type of market to another for instance in a monopolistic market buyers can not determine anything in such market because the seller determines price and the buyers has to accept it however it comes. It is only in a competitive market that a buyer will have a role to play but he still does not determines the price rather it will be determined by the forces of demand and supply. So in any case it will be difficult for either the buyer and seller to determine the fix prices as this things are allowed to play out by the forces of demand and supply.


Again in the case of farming business it actually depends on the type of crops one is planting and also the season one is doing the harvesting and also the country where the farm is situated matters alot, all these things determines the price of the crops. when we consider all these factors very well you will see how it will influence price.

 

[btaliat]

There is always a situation where the buyer is the one that does manipulate the market. In this system, we call it monopolistic market. But it does have some goods and products that a monopolistic trader can sell.

Agriculture has highly perishable products. And to really make profit, there is need for quick sale. This makes a farmer to sell at a loss. Fir instance, someone that sells banana and mostly peppers need to be quick while selling his products to avoid being spoilt.

This is one of the problems of agriculture and to really overcome this, there is need for a farmer to have some storage facilities to preserve those products that are highly perishable.

There is need for high demand for the goods that a farmer wants to embark on to ensure that a farmer sells to the highest bidder.

 

[Jasz]

Don't let the trader dictate the prices of goods. Do you know that in a market economy? There is a fair price for every product according to its supply and demand. You try to purchase something in farm, at market or independent stores, or from overseas vendors on websites like eBay or Amazon. These retailers or farmers do not dictate the prices of goods they sell. A seller who determines his or her prices arbitrarily with no regard to the actual supply and demand of his products is called a price gouger. A section of an anti-price gouging law states "A supplier may not charge an excessive price during a period declared by proclamation as one of emergency"


However, we must ensure our very best not to allow monopoly play on us , especially when we are dealing with perishable goods as a farmer, ensure you have so many clients, don't just rely on one but many so you won't be disappointed.


Trade is at the very heart of the game, and the price of items can vary depending on where you are in the world. The Trader is a special NPC in multiple locations who sells items (that he makes himself) at their base price. So if you are walking along and see a product you want and it's priced much higher than normal, you may want to go to the nearest town with a station instead of buying it right away. When you visit the Trader, he will offer to sell you any item for its base price.

 

[sincerem]

I wouldn't let such occur, that's why one should advertise his or her business to get viral notice. In order to attract other suitable buyers or patronants and not just those who will come and underprice our goods or products for us. And again, we shouldn't put the prices so high to become unaffordable, it should be affordable to customers who are willing to pay well. I don't like buying too expensive products that cost by far more than they should cost. That's why I love comparison before deciding finally buying a particular product. It might differ in another place, if the price is higher where I priced it first, I will simply go another place where I can get it cheaper to save money.