AOB 25/7/2020

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Elder Lister
The power of information​
The picture below shows a tool known as a paint sprayer. The wholesale price of the sprayer locally is about 3000 shillings.

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When buyers were not aware of the various shops that stocked the item, traders could comfortably sell it for 6500 shillings. In this case, the buyers were at a disadvantage.

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With time, more businesses advertised the same item. Suddenly, buyers had options, and shops were competing to make sales. Consequently, the price dropped by a significant margin to 4500 shillings.

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More buyers could now afford the item, and the businesses were still making a healthy profit. This is what happens when businesses are forced to advertise online. Buyers gain more information, which prevents businesses from ripping off customers. You can encourage this trend by giving business to people who advertise online. Businesses must be weaned of super profits, which saw businessmen leading first-world lives while trading in a third-world market. There is not such thing as a free market. This business imports merchandise using forex earned by a tea or coffee farmer somewhere. It is, therefore, unfair when the same farmer cannot afford the imported items due to the high mark-ups. Since everyone relies on everyone, capital should not be treated as too sacred to be questioned.
 
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