The impact of rising fuel prices Introduction This essay will review how the rising fuel prices affect the different macroeconomic variables such as inflation, rising production cost, unequal economic conditions between oil exporting and oil importing nations. It will also examine the influence on airline industry, holiday companies, shipping industry and rising unemployment rates because of the higher energy prices. There will also be a review on car sales in India. This essay will also evaluate the rising demand for alternative energy sources.
Price rise is a world phenomenon today and inflation is affecting every section rich and poor of society. About three decades ago we could purchase wheat at thirty rupees a quintal, but today we cannot get it at less than three hundred rupees a quintal in big cities.
Everything was within the reach of man until a few years ago. Today there is no limit to the price rise of all kinds of items. Millions of people in the world have to go hungry. They have to work hard to make both ends meet.
In the pre-independence days, a clerk got only Rs. Pays have gone higher, but the employs are not satisfied.
They have large families to maintain and it becomes difficult to feed so many mouths with hardly any money. There is a dearth of cheap accommodation and there are many people living in slums. The prices of clothes are also high and often some people don't even have any money to buy these to cover themselves with.
The government goes about imposing taxes after taxes on the citizens.
This leads to a lot of money going into the national expenditure and into the pockets of corrupt leaders and the officials. Black marketing is another result of these heavy taxes and people begin to conceal their actual income.
The government should impose taxes on hoarders and rich people. Production of agricultural goods should be increased along with industrial goods. Their prices should be fixed. The government should undertake a big scheme of rationing in cities and villages Cheap clothes should be produced and essential items be distributed through government shops.
Corruption must be ended at all levels. Corruption adds to the problem of prices. Bribing is common in most government offices and this leads to the rise in the prices of goods. For example, a job that can be done by paying a small amount needs more money because some officials would not do it till they get extra money for it.
This leads to an imbalance in the market and often prices don't remain fixed and lead to an addition to the burden on the common man. The finance minister plans the budget every year and we often find a fluctuation in the prices.
They soar but never come down. This is a problem that has to be tackled at all levels and the common man needs some relief from the continuously rising prices.Essay, Paragraph or Speech on “The Rise of Indian National Movement ()” Complete Essay, Speech for Class 10, Class 12 and Graduation and other classes.
Essay, . The Impact Of Rising Fuel Prices On Business. The fuel prices are a significant determinant of worldwide economic performance. The oil price rise results in a transfer of income from oil importing to oil exporting countries according to a shift in terms of trade.
Gas prices increase has an influence on oil price increase. What is the effect of a price increase? The conventional answer that quantities consumed will decrease along a demand curve doesn’t always apply in health care.
But the copayment may be a small part of the total, and the copayment may not rise at all with a price increase. An increase in the price the manufacturer charges for a drug.
The Impact Of Rising Fuel Prices On Business. The fuel prices are a significant determinant of worldwide economic performance. The oil price rise results in a transfer of income from oil importing to oil exporting countries according to a shift in terms of trade. Gas prices increase has an influence on oil price increase.
Essay on Causes of Rising Prices and its Effects – Essay 5 ( words) Introduction There is no denying the fact that the Indian economy is . Constantly rising prices are like a fire feeding on itself. As they erode the incomes of wage-earners, they give rise to labor unrest.
That in turn brings down productivity leading to further increase in prices.