Bangladesh economy
Today as we look at the prices of daily necessities, in particular the food staffs, from the point of view of an economist they would term it as “MARKET FAILIURE”(i.e. right goods are not available at right price & in right quantity). The free market forces of demand-supply are unable to meet the consumer demand. Although some people particularly those who have affordability are still having a pleasant life . But just imagine what type of life the majority of our people are living? They are finding it hard to have meals twice a day. The main reason behind it is lack of job opportunities due to low business confidence.
Besides, there is a hint of government failure because the government's several attempts have failed to pull prices down, rather the prices kept on climbing.
So, the gap between the rich & the poor is further widening, leading to greater inequality. So it is high time that the leading economists, businessmen, government officials & other parties involved sit together & get the citizens of the country out of this mess.
Something really needs to be done immediately!
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