181k views
3 votes
1. The growing prices of various commodities have severely dented thehousehold budgetofmany people. Also, it is increasinglybecoming difficultforpeopletomanagetheirexpensesinfixedsalaries.Writean articlein titled‘Price RiseAffectingHouseholdBudgets‘highlighting this problem and suggesting ways to spend in a planned manner . You are Divya / Deepak .(100-150 words)

1 Answer

2 votes

Although many may believe that an increase in commodity prices represents a time of economic prosperity in industrial terms, we cannot say that the same is true for the families of the citizens, especially those of the lower classes.

The increase in commodities does not promote an increase in the minimum wage, which means that the worker has to buy more expensive products (mainly survival products), with the same salary. As a result, consumer purchasing power is reduced and quality of life is often impaired.

Solving this problem is not easy and the cooperation of political bodies as well as industries is necessary. The lower and middle class consumers must be protected from price increases and this protection will only be achieved through the creation of guidelines that preserve purchasing power and promote social welfare, where citizens can maintain a stable quality of life, buying what you need.

User Erin Drummond
by
7.1k points