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economic (overpricing) - Coggle Diagram
economic (overpricing)
causes
inflation
profits
supply & demand
high production & tax costs
influences
technology products
luxury brands
Real Estate Markets
monopoly power
effects
inflation
marketing competition
normal-poor people cannot afford
supply and demand imbalance
examples
100+ baht smoothie
scarcity
techniques
High Demand and Low Supply
Monopolistic practices
market power
price fixing
Branding and Marketing
Cost-Push Inflation
Rising costs of raw materials, labor, and other inputs
law
Price Gouging Laws
prevent dramatically increasing costs
protect consumers
Antitrust and Competition Laws
prevent monopoly
prohibit practices that restrain trade.
Consumer Protection Laws
save consumers from an unfair situation
Sector-Specific Regulations
regulate pricing
if prices affect consumers' well-being
Regulatory Price Controls
set maximum price of essential products
examples (affects in real life)
higher insurance premiums
smartphone pricing
food and groceries
raw materials
malnutrition
tuition cost
international vs public school fees
solutions
Enhance Market Competition
support new businesses
Government Regulation and Oversight
Enforce Antitrust Laws
Implement Price Controls
Consumer Protection and Education
raise consumers' awareness
Consumer Protection and Education
mobile banking
Economic Policies
Monitoring and Enforcement
monitor prices and detect overpricing trends.
penalties