In a business one important thing will always notes is the price range of any product you are selling or buying. The first range of a product of determines how marketing it will be. These days majority of individual focuses more on the price range of a product than the quality of the products. Many believe that, there is no good quality products are there therefore, they should get all the products in a low price range. When you take your time to check how market works and buying and selling of product or services, you will get to realize one thing that is very common. 'Price Cap' price cup is actually common in every business but many of us or other business people or men do not pay attention to this. Every goals or services has a price cap but the Society which we found ourselves, have made it, not to be effective.
Because of there is no effective price cap regulation people tend to fix their own price, the way is suits them and not the way it should be. At the time you get a product of the same quantity and quality at particular price, in one location, when you move from a particular shop to another in the same location you will still get that same product we the same quality and quantity, at either higher price or lower than what you got it before. Which is not supposed to be so, I always feel bad when you try to ask questions, why is it that the price is different from what others are selling? You will see them responding to you that, where they bought their own products is different from where others get theirs from. Come to think of it should there be an excuse or is this just a way of extorting money from people or a way to prove your additional or different price in sells of goods.
Just last week we went to get a drink from a shop, for an occasion hosting in my institution. We went to the first shop in the same location, the drinks we ask for was given to us with a price tag that is approximately higher than the market survey we have done already, we left to another shop to get that particular drink, and it was so to us with about 25% deduction of the initial price they told us in the other shop. All these are happening because there is no price cap. Don't worry bless the minimum or maximum amount of price that we big attached to a particular product.
When there is a price cap it favours the consumers and somehow balance expenses of the society. It becomes an extortion of money when your expenses is not corresponding with what you consume. When there is no price cap it is in the favor of those who sell their products because they can utilize the opportunity they have to increase the price at any given time, because there is no regulatory system or body. When you leave everybody to sell their products on their own without a regulatory system, of price cap, then they can do anything they want, using their market power to exploit consumers.