Essay on Rising Prices/Price Hike: The rapid increase in prices causes anxiety among the people. Prices of everything are skyrocketing, even of the essential commodities like gas, pulses, sugar, edible oils, food grains, tea, petrol, etc.
Economics pointed out factors such as disposable income, black money, spending, public expenditure, etc., are responsible for exceeding demand. Similarly, certain factors, such as low or slow production, natural calamities, etc., are responsible for the supply shortage.
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Long and Short Essays on Rising Prices/Price Hike for Students and Kids in English
We are providing students with essay samples on an extended essay of 500 words and a short piece of 150 words on the topic “rising prices/price hike” for reference.
Long Essay on Rising Prices/Price Hike 500 Words in English
Long Essay on Rising Prices/Price Hike is usually given to classes 7, 8, 9, and 10.
Economists consider a rise in prices as a sign of development and prosperity. But in the last two decades, costs of almost all the essential commodities have been rising at an alarming rate. These soaring prices have caused great unrest and frustration among the people. The individuals belonging to the middle class and the salary people are struck. Evils of corruption, smuggling, bribery, illegal gratification, and such sins of the society have to be eradicated before anything else. All the more, the soaring rates have become a significant threat and an open challenge to the government and have shaken the people’s faith.
It is not only the rising prices of essential commodities sometimes things of daily use are not available in the market. Prominent businessmen hoard things and sell them in black. Adulteration of eatables practiced by dishonest shopkeepers result in significant health hazards. Sometimes, there is no sugar, cooking gas, kerosene oil, and many more such essential commodities when required.
The prices of petrol, cooking gas and several other items of daily use are increasing every year. Additionally, the railway fares, flight fares, taxi and bus charges are also increasing regularly. The wealthy make a display of their wealth while the poor find it difficult to make ends meet. Life has lost its appeal for the average breadwinner. The indiscriminate rise in essential commodities’ prices has left many people tensed and helpless because no one can force see what is in store for ordinary people. The price line is the lifeline of a nation. Therefore, sincere efforts should be made to stabilize the prices of essential commodities.
There are various causes of the unprecedented rise in Rises. Inflation, black marketing, poultry credit System, hoarding, overpopulation, and improper distribution system are some of the major causes of the hike in prices. People need more things than they required earlier because the standards of life have improved as well. Increasing demand leads to a hike in prices. Sometimes, natural factors like floods and droughts also contribute to rising costs. Production of food is not in proportion with the increase in population. Social evils also taxed the common people badly, and with the breaking of the joint family system, the cost of living has gone up.
It is now increasingly felt that large-scale corruption why some political leaders in power and some senior officers in the government are also the cause of the constant rise in prices. Several scams have come to light recently involving an immense amount said to have been pocketed by big names of the country without any shame or remorse. Let us hope that the government will be able to bring down soaring prices. What is needed is the right intention and the force of will. In the recent past, the state has taken some steps to control the costs and revamp its economy. The government efforts have made partial success, and inflation has been controlled to some extent.
Short Essay on Rising Prices/Price Hike 150 Words in English
Short Essay on Rising Prices/Price Hike is usually given to classes 1, 2, 3, 4, 5, and 6.
The price rise is a world phenomenon of today, and inflation is affecting every section of society. Our country is also facing this problem. The prices of almost all necessary goods have gone up. This creates great hardship and difficulties for the fixed-income group or those belonging to the lower-income group. Today’s government imposes high taxes on the already overburdened citizens. This leads to a lot of funds going into the government expenditure and corrupt leaders and officials’ pockets. Black marketing also leads to massive taxation as people conceal their actual income.
Corruption must be ended at all levels. Bribing is common in most government offices, leading to the rise in the price of goods and commodities. This leads to an irregularity in the market and in addition to the burden of the common man. Rising prices are a problem that has to be tackled for the nations well being.
10 Lines on Rising Prices/Price Hike in English
- The increase in the cost of goods and services is known as a price hike or rising prices.
- An increasing population and increasing amounts of goods cause prices of commodities to rise.
- A drought or a flood is enough to disrupt supply and increase prices.
- As the purchasing power of a population increases, the demand for goods and services also increases, which results in a price hike.
- Commodities such as petroleum, which are imported to a large extent, are subjected to greater prices than other commodities.
- Artificial gaps in supply are created by unscrupulous operators such as hoarders, black marketers traditional traders.
- A price hike or price rise has both economic and political consequences.
- Reforms are needed to control hoarders so that a price hike for essential commodities doesn’t hit the common man brutally.
- The middle class also finds it hard to make ends meet during a price hike.
- Ordinary people are most commonly and severely affected because of price hikes.
FAQ’s on Rising Prices/Price Hike Essay
Question 1.
Why are the prices Rising?
Answer:
The two leading causes of inflation are demand-pull and cost-push. Both of these factors are responsible for the general rise in the prices of an economy.
Question 2.
What are the effects of rising prices/price hike?
Answer:
Rising prices, known as inflation, impact the cost of living, borrowing money, corporate, mortgage, the cost of doing business, government Bond yields, and every other facet of the economy.
Question 3.
How to prevent a price hike?
Answer:
One popular method of controlling rising prices is through monetary policy. This policy aims to reduce the money supply within an economy by decreasing bond prices and increasing interest rates.