The Consumer Price Index (CPI) is designed to provide a broad measure of changes in retail prices experienced by Malaysian households as a group and should not be expected to exactly reflect the experience of any individual household. Laspeyres formula is used for calculating the index which is based on items that are locally consumed reflecting the spending habits of the average Malaysian. Thus the CPI is seen as a general indicator of the change in retail prices paid by households for goods and
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account‚ under some circumstances‚ is price. However‚ it should not always be the sole consideration for purchasing decisions. From my point of view‚ apart from price‚ there are other determinants that can have a strong impact on a buyer’s decision‚ namely quality‚ buyer psychology and commitments that a firm offers its customers. To begin with‚ it can be said for sure that for most wise consumers‚ the quality of products or services is remembered long whereas the price is soon forgotten. When people make
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Why the Oil price crisis in India? Introduction In the last week‚ our finance minister has announced that there may be no subsidy for the diesel prices for cars. It is one of the news among many news which is coming on its way about the fuel prices in India. Especially in India‚ fixing the fuel prices is one of the daunting task for the government. Indian govt. gives explanation to the common man for the reason of price hikes which can be understand only by the experts. There are numerous things
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Introduction For over twenty-one years‚ fuel price in Malaysia has been fluctuating ever since. Back then‚ the cost of a litre of petrol was only RM0.89. The history of fuel price increment started since the year 1990 when petrol price increased to RM1.10. Today‚ the price of a litre of RON97 is retailed at RM2.40 while RON95 at RM1.90. Malaysia government is subsidizing fuel pump at around 40 sen per litre and had already spent up to RM56 billion by giving gasoline‚ diesel and gas subsidies each
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led to the continuous hikes of gas prices. Since gas plays an important role in our economy‚ people should understand that the high gas price does not only mean people need to pay more for driving their cars‚ but it also leads the pervasive inflation‚ the change of people’s consumption habits‚ and more seriously‚ the recession of the global economy. First of all‚ the rising prices of gas‚ a critical input in almost all production processes‚ will trigger the price hikes of most consumer and industry
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Firms with some market power can increase profits by practicing either direct price discrimination or indirect price discrimination. Direct price discrimination arises when the market can be segmented into sub populations on the basis of readily observable characteristics. Each of the segments has a different elasticity of demand and subsequently is charged a different price. Arbitrage must be prevented for this type of discrimination to be applicable. Profits are maximized by equating the marginal
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Demand‚ Supply and Market Price Determination Consumer behaviour Utility is the economist’s term for the satisfaction a customer derives from the goods that they buy. Marginal utility is the increase in total utility arising from an increase in consumption by one more. For example‚ suppose I like eating bananas‚ and I have already eaten one banana; then the satisfaction I get from consuming a second banana is called by economists the marginal utility. Marginal utility is the utility gain from
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the most expensive gas The United States gasoline prices have been fluctuated from $3.40 a gallon to $3.60 in the last few months. As of July 20‚ 2013 the average fuel prices which is nationwide use to be $3.63 per gallon has rising up from $3.48 cents a gallon‚ which was a week apart. The recent rise in gas price have some drivers wondering if the gas price will soon be up to $4.00 a gallon by the end of this summer. The Crude oil prices have shot up partially because of the political unrest
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Introduction There are many factors that affect in share price in DSE. The price of goods determined in market on the basis of Demand and Supply. Share market is also a market. Every Share has a face value and this value vary in market on the basis of demand and supply of share. In the share market everybody are buyer and everybody are seller. One sells a share and another purchase that‚ in the same way he sells a share and another purchase that. The share market is fully computerized digital market
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Introduction to price discrimination In our study of the theory of the firm we have assumed so far that a business charges a single price for its products‚ naturally the reality is different! Most businesses charge different prices to different groups of consumers for the same good or service. Businesses could make more money if they treated everyone as individuals and charged them the price they are willing to pay. But doing this involves a cost‚ so they have to find the right pricing strategy
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