Consumer trends have variably taken a step closer to the perfect attenuation of a market economy. Considering the rural economy and how the major city centralized economy over shrouds the rural ones might help us gain some precedence concerning the mass benefit.
The way the Bangladesh economy has transformed from the pits of destruction to a thriving upper-middle-income nation has reiterated that as we move forward, lot more is there to come as we combine valor, dignity, and identity. All of these factors encapsulate nationalistic morals, and anyone with a sense of nationalism will automatically undertake what’s on everybody’s behalf.
Among many other things, the supply chain till this date behaves as if it is a major source of concern. The category Bangladesh as a nation will help us embark on a journey where the benefits are ripped off and not reciprocated. The supply chains of different businesses, be it outsourcing, industry, business, and agriculture, are all in a cohesive relationship with the consumer.
At the start, the supply chain itself wouldn’t exist if there was no demand, and further thought the entire supply chain mechanism across various sectors needed the vacuum in the markets to get it going. Oversaturation isn’t a problem anymore; as we get to the highest social and economic rank, the supply chain plays an essential role in garnering the strength to rekindle the relationship between consumer trends and its relationship with businesses.
Taking a shot at explaining the macroeconomic constitutions to surface how the country has reached where it has requires the application of validity. What is more valid than factors that mitigate our lives in terms of the minute economic factors that concern our salary, bank balance, and expenditure are all on a macroeconomic state considered as constant. Without an unusually large variation in spikes, these factors will not be of any great concern.
However, when discussing business and trade’s macroeconomic aspects, we cannot forget the very old notions of aggregate demand and supply, production, and employment that have become the staple of the macro-economic approach. But what are the spikes in the economic concern? It is the spikes in prices of food items such as meat, fruits, and vegetables and the transition of these things into full utilization of resources. Food can’t be considered as a resource to the people selling it, and the reason is that they are getting some sort of benefit by selling it but in reality, are they using it?.
The answer to the question is pretty redundant, and it loses some value when approached from the other side: The consumer. So food, as a resource, is beneficial to the consumers, as well as a resource that must be consumed and lives depend on it. Categorizing the kinds and types of food in no way means to hinder buying and sell it taking into account the acceptability and reliability upon it. Why the word reliability because? In many cases, the resources remain idle, and when we deviate away from the stagnant notion of full utilization of resources.
On average, and as the title goes, what are the reality of spikes in agricultural or food products. Bangladesh economy is heavily dependent on agriculture. The agriculture sector, which includes crops, animal farming, forest, and fishing, makes up to 14.74 percent of the country’s GDP, and upon disturbances, the GDP to quite a large extent gets affected. At first, we will have to deal with the ever-growing cultural dispositions that affect the taste of expectations and how these expectations turn their tide into models of economic failure. In reality, before going into the realm of why of the price spike, we must understand national income and expenditures.
The income under low inflation rates always matches the expenditure though both are the same facets of the same thing. The particular distinctions are that between the payment of taxes, purchasing power, and saving on a backdrop of consumerism, business, and the rest of the world. It is understated how closely the concept of income and expenditure is closely tied. Theoretically, personal consumption expenditures and private domestic investment, which is broken down into fixed investment and change of inventories-government purchases of goods and purchases and net for eign purchases equal to export minus import.
A rise in the price level, therefore, should indicate excessive inventory accumulation. Forecasting, therefore, becomes the best option to prevent a financial breakdown. Government receipts and expenditure account along with foreign transactions account and gross saving and investment account gives us the perfect idea to cope up with the hike in prices. The main concern is how these hikes happen in relation to budget surplus and a budget surplus.
According to the formula C+S+T: GNP: C+I+G and on elimination, it becomes S+(T-G): I.S is the Private saving, the sum of private and business saving. T and G represent the private and public saving, and the “T-G” portion determines the budget surplus and the deficits depending on the value of the constituents .keeping all this in mind if the price increases as has the price of onion in recent times, there will be the change in inventories and that will affect the GNP. On one side, we will see part of the GNP going into actual usefulness as rising prices for agro products such as onions rise to have a devastating effect on all the consumers’ purchasing power and capacity.
The cases of stock and flows amidst the price hike are something to be considered. Stock and flows are both variables, while the stock has predetermined value over a fixed point of time flow, on the other hand, it maintains the fact that it has valued over large periods of time. Where does this fit into the price hikes? Very communally, the hike can be considered a flow, and the stock can be considered its current price? As of now, flows will be the range of prices over the hike due to a shortage of supply due to environmental and more badly economic factors downgrading the projections, which include the stock markets.
As we reach an end, the picture becomes clear. The economic variables will automatically adjust themselves in a way as to admit monetary and fiscal policies, which will induce economic effort to create the perfect environment: Economic proliferation and sustenance among fiscal failures. Fiscal policies are continuing to be the best guide towards maintaining balance and order in society.
Now we are in a very precarious zone, along with economic uncertainties and financial imbalance, we are entering into a calm zone of fervor, and that can’t match anything else. The real reasons for sustenance go beyond how we work or what theories we generate; the real picture is how each and every one of us contributes to the bigger goal and how on the mass level this is administered the apex of our survival, and beyond this, we need our own fortunes to be good and hit the mark in terms of the rate at which resources are disposed and the return that we get as a very good consequence of procedural order.
To end it, the equilibrium and disequilibrium in nature cannot be fought with; what is required is the careful use of manpower and resources to truly make us reach the utopia that we were promised of.
Engr. Samin Shadman Zahir
Contributor, The InCAP