RE: Regulated Pricing Vs Human Greed: Exploring the Ethics of Price Control in Modern Markets
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While I understand your take, have you considered that the Nigeria market is not stable and as such profit cannot be predetermined? Have you forgotten so soon how the president just woke up one day and declared no more subsidy which saw the price hike that we are suffering today? People need to be sure that whatever they are selling at would be able to buy them a replacement product so that they can continue in business. Your points are very valid but then in a country like Nigeria where the government themselves have no control, a central controlling body will be suicidal for the business environment.
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It might not be a central government body, it can be an association within their business. I understand your view on this, we all have different perspectives of how the market works but Buying a trouser for 5k from china and now selling it 50k for people, his way too much for a gain and very unfair. that's more than 2x or even 3x profit.
It depend on the area. You don't expect someone whose shop is in maitama or Lagos Island to sell same price as those in cheaper area. When it comes to running business, you don't only look at the profit but the cost. Regardless, it's a free market and thank God everyone now has access to shop from China.
I understand your view on this. Good to know we all have access to china orders directly