In many countries, the cost of living is rising. What effect do higher prices have on individuals and society? And what are better ways for people to deal with the high cost?
It is true that the cost to cover both basic needs is increase in many areas around the world, which undeniably has a wide range of adverse effects on not only people from middle and lower classes but also the society itself. Nevertheless, there are many ways for both the former and the latter to deal with the inflated prices.
The most serious problems resulting from the commodities' exorbitant price are the lower living standard for most people in society and the loss of profits of various companies in all economic sectors. As for the former, those whose wealth just sits in the margin of the middle and lower classes are the most suffered from this problem. The high price paid in daily consumption means that they have to spend a larger proportion of earnings to fulfill their basic needs, leaving little for savings or discretionary spending. Furthermore, if the wage fails to catch up with the increased costs, both blue and white-collar workers will have to force themselves to make more money by any means necessary, including gambling or criminal activities. As a consequence, people may have less time to pay attention on enjoyment of life and isolate themselves from other family members, which, in turn, making the lack of happiness and energy a common scene amongst most citizens. Moreover, due to the financial difficulties, lots of customers become more economical thus prefer the affordable products to the lavish ones. In addition, there will be fewer people spending money on leisure activities, such as, playing sport or watching movie, that can economically harm the business of service providers. The decline of consumption and purchasing power can be disastrous for economic growth because of the stagnation and corporate downsizing, which can lead to the increasing unemployment rates.
There are several measures can be taken by everyone to solve the aforementioned issues. To begin with, from an ordinary person's perspective, it is wise to be a smart consumer in the time of escalating prices. For instance, customers should consider all the necessities and check both the price and quality of products before giving final decision. As a result, they can save a huge amount of hard-earned money on unnecessary goods, left of which can be paid for healthcare or entertaining services. From an entrepreneur's perspective, in order to generate more profit and maintain brand loyalty from buyers, companies should divert their strategic goals. To elaborate, instead of investing money and manpower in producing high-end merchandises, companies should concentrate on mid-range or budget products, which suits the financial capability of customers. By doing this, the revenue gained from the payment for the latter goods will definitely increase and may even eclipse the exclusive ones in the future.
In conclusion, although the hike in costs of living can impose a number of problems on living standard for common people and profits of manufacturers and service providers, steps can be taken to alleviate these issues.
| Post date | Users | Rates | Link to Content |
|---|---|---|---|
| 2019-09-20 | ha tran thi thu | 89 | view |
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- In many countries the cost of living is rising What effect do higher prices have on individuals and society And what are better ways for people to deal with the high cost 41
Grammar and spelling errors:
Line 4, column 120, Rule ID: POSSESIVE_APOSTROPHE[2]
Message: Possible typo: apostrophe is missing. Did you mean 'persons'' or 'person's'?
Suggestion: persons'; person's
...issues. To begin with, from an ordinary persons perspective, it is wise to be a smart c...
^^^^^^^
Line 4, column 507, Rule ID: POSSESIVE_APOSTROPHE[2]
Message: Possible typo: apostrophe is missing. Did you mean 'entrepreneurs'' or 'entrepreneur's'?
Suggestion: entrepreneurs'; entrepreneur's
...hcare or entertaining services. From an entrepreneurs perspective, in order to generate more ...
^^^^^^^^^^^^^
Transition Words or Phrases used:
also, but, furthermore, if, may, moreover, nevertheless, so, thus, as for, for instance, in addition, in conclusion, such as, as a result, it is true, to begin with
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 13.0 13.1623246493 99% => OK
Auxiliary verbs: 16.0 7.85571142285 204% => Less auxiliary verb wanted.
Conjunction : 22.0 10.4138276553 211% => Less conjunction wanted
Relative clauses : 8.0 7.30460921844 110% => OK
Pronoun: 16.0 24.0651302605 66% => OK
Preposition: 73.0 41.998997996 174% => OK
Nominalization: 11.0 8.3376753507 132% => OK
Performance on vocabulary words:
No of characters: 2562.0 1615.20841683 159% => OK
No of words: 491.0 315.596192385 156% => Less content wanted.
Chars per words: 5.21792260692 5.12529762239 102% => OK
Fourth root words length: 4.70728369723 4.20363070211 112% => OK
Word Length SD: 2.83080923876 2.80592935109 101% => OK
Unique words: 274.0 176.041082164 156% => OK
Unique words percentage: 0.558044806517 0.561755894193 99% => OK
syllable_count: 797.4 506.74238477 157% => OK
avg_syllables_per_word: 1.6 1.60771543086 100% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 5.0 5.43587174349 92% => OK
Article: 4.0 2.52805611222 158% => OK
Subordination: 5.0 2.10420841683 238% => Less adverbial clause wanted.
Conjunction: 0.0 0.809619238477 0% => OK
Preposition: 10.0 4.76152304609 210% => Less preposition wanted as sentence beginnings.
Performance on sentences:
How many sentences: 18.0 16.0721442886 112% => OK
Sentence length: 27.0 20.2975951904 133% => The Avg. Sentence Length is relatively long.
Sentence length SD: 41.8800830709 49.4020404114 85% => OK
Chars per sentence: 142.333333333 106.682146367 133% => OK
Words per sentence: 27.2777777778 20.7667163134 131% => OK
Discourse Markers: 9.11111111111 7.06120827912 129% => OK
Paragraphs: 4.0 4.38176352705 91% => OK
Language errors: 2.0 5.01903807615 40% => OK
Sentences with positive sentiment : 9.0 8.67935871743 104% => OK
Sentences with negative sentiment : 7.0 3.9879759519 176% => OK
Sentences with neutral sentiment: 2.0 3.4128256513 59% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.179231868432 0.244688304435 73% => OK
Sentence topic coherence: 0.0535723063495 0.084324248473 64% => OK
Sentence topic coherence SD: 0.0510037816464 0.0667982634062 76% => OK
Paragraph topic coherence: 0.126583242942 0.151304729494 84% => OK
Paragraph topic coherence SD: 0.0543449026341 0.056905535591 96% => OK
Essay readability:
automated_readability_index: 16.8 13.0946893788 128% => OK
flesch_reading_ease: 44.07 50.2224549098 88% => OK
smog_index: 8.8 7.44779559118 118% => OK
flesch_kincaid_grade: 13.8 11.3001002004 122% => OK
coleman_liau_index: 13.29 12.4159519038 107% => OK
dale_chall_readability_score: 9.28 8.58950901804 108% => OK
difficult_words: 134.0 78.4519038076 171% => OK
linsear_write_formula: 14.0 9.78957915832 143% => OK
gunning_fog: 12.8 10.1190380762 126% => OK
text_standard: 14.0 10.7795591182 130% => OK
What are above readability scores?
---------------------
Rates: 73.0337078652 out of 100
Scores by essay e-grader: 6.5 Out of 9
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.