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Factors that affect the price of goods and services.
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[QUOTE="TOZZIBLINKZ, post: 217490, member: 37528"] There are various factors that affect the price of goods and services some of which you have mentioned , but the one I want to elaborate the more is the cost of production . In some regions of the world manufacturer Spends huge amount of money in the production of various commodities especially Consumer goods. If you are wondering what consumer goods are well it refers to those goods and commodities that are essential and most wanted by human beings for survival . And so after this consumer goods are being produced and then sold to the wholesaler who in turn sell it to the retailer who makes the goods available in bits to the final consumer prices of these goods tend to increase and so buyers and consumers will have to spend more to acquire these communities . In some regions of Africa to be precise West Africa we are currently facing the condition of inflation which simply means , high circulation of money chasing fewer goods caused as a result of increase in manufacturing and producing cost of these goods . I believe in order to avoid this from happening the art of industrialisation should be encouraged by the government . Because most manufacturers and producers have to import raw materials from foreign countries , so with industrialisation production of goods and services can be easily done within a particular country thereby reducing the cost in which goods and services are being produced for a good effective market price . [/QUOTE]
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