Some people think that the government should be allowed in controlling prices of commodities such as, food items, oil, and/or medicine. Although these may be an advantage to others, I believe that the government should not have any control in the market. In this essay I will examine the advantages and disadvantages of price control.
There are many positive effects when government has full control of prices. One example is the stability of the supply and demand chain in the food market. Having such control can lessen the society’s overspending in food that could result to food waste. Another is by increasing oil prices, there will be a significant decline in numbers of car used for transportation. This may eliminate most of the CO2 emissions therefore can help lessen global pollution. Lastly, controlling the prices of medicines could mean accessibility. For example, in Canada the government offers free prescriptions to children and to senior citizens. That being said, it can bring positive impact in the health sector by reducing number of illnesses and prolonging of life.
However, there are disadvantages in allowing the government to gain control. For instance, having such control in the food market can sometimes result to inflation if there was incorrect balance in the food chain. As a result, people in the low-income bracket would suffer and may not be able to afford if the prices peaked. Also, the oil industry will fail if the prices were not in control of the market. Finally, there will be prolific changes in the health sector. A lot of people in the middle ages could suffer from diseases because the middle-aged could not afford buying expensive medications.
To sum, there may be positive developments when government takes full responsibility in price control. However I believe that these benefits far outweigh the disadvantages it can bring to the people.
Some
people
think
that the
government
should be
allowed
in controlling
prices
of commodities such as,
food
items, oil, and/or medicine. Although these may be an advantage to others, I believe that the
government
should not have any
control
in the
market
. In this essay I will examine the advantages and disadvantages of
price
control.
There are
many
positive
effects when
government
has full
control
of
prices
. One example is the stability of the supply and demand chain in the
food
market
. Having such
control
can lessen the society’s overspending in
food
that could result to
food
waste. Another is by increasing oil
prices
, there will be a significant decline in numbers of car
used
for transportation. This may eliminate most of the CO2 emissions
therefore
can
help
lessen global pollution.
Lastly
, controlling the
prices
of medicines could mean accessibility.
For example
, in Canada the
government
offers free prescriptions to children and to senior citizens. That
being said
, it can bring
positive
impact in the health sector by reducing number of illnesses and prolonging of life.
However
, there are disadvantages in allowing the
government
to gain
control
.
For instance
, having such
control
in the
food
market
can
sometimes
result to inflation if there was incorrect balance in the
food
chain.
As a result
,
people
in the low-income bracket would suffer and may not be able to afford if the
prices
peaked.
Also
, the oil industry will fail if the
prices
were not in
control
of the
market
.
Finally
, there will be prolific
changes
in the health sector.
A lot of
people
in the
middle ages
could suffer from diseases
because
the middle-aged could not afford
buying
expensive medications.
To sum, there may be
positive
developments when
government
takes full responsibility in
price
control
.
However
I believe that these benefits far outweigh the disadvantages it can bring to the
people
.