Why having a Maximum Retail Price on a Product is a Socialist Idea and Bad for the Indian Economy?
DOI:
https://doi.org/10.31033/ijemr.12.3.30Keywords:
Retail, Product, EconomyAbstract
In a capitalist society, the market uses the rules of supply and demand to set prices. For instance, a firm that wants to make money would raise prices as the demand for coffee rises. Tea growers would face reduced pricing and a decrease in overall production if society's taste for the beverage decreased simultaneously.
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Copyright (c) 2022 Adityawardhan Gaikwad
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Research Articles in 'International Journal of Engineering and Management Research' are Open Access articles published under the Creative Commons CC BY License Creative Commons Attribution 4.0 International License http://creativecommons.org/licenses/by/4.0/. This license allows you to share – copy and redistribute the material in any medium or format. Adapt – remix, transform, and build upon the material for any purpose, even commercially.
