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Controlling the Rising Cost of Living |
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In recent times, the rising cost of living has become a hot topic due to the
economic turmoil affecting the country. This issue has led to an increase in the
cost of living in Malaysia year after year. However, the salary and job
opportunities offered are still at the same level as 10 years ago. This problem
may arise from the greedy attitude of traders, manufacturers, or capitalists who
control the economy and act like bloodsuckers. If this attitude of profiteering
is not stopped, the gap between the high and low income groups will continue to
widen. Therefore, what initiatives can be taken to control the rising cost of
living and ease the anger of conventional society?
The main initiative that can be taken is to introduce a mechanism to control the
price of goods, especially basic necessities such as rice, cooking oil, and
sugar. A government that is intellectual and concerned with the well-being of
its citizens should set a ceiling price for these essential goods, which are
usually in high demand among consumers. This action has been taken in the past,
but only during celebrations and not maintained for a long period of time. Thus,
the authorities need to conduct a study to find a list of essential goods that
are important for the local population in their daily lives. As a result, the
people can still purchase necessary goods to continue their lives despite the
economy's instability caused by the turmoil of powerful countries.
In addition, controlling the rising cost of living can be achieved by ensuring
the production of goods according to the forecast demand of consumers. This
effort requires cooperation and ethics from both suppliers and product
manufacturers. This is because during the festive season or crisis, consumer
demand will increase, and there are some parties who take advantage by raising
the price of goods. The authorities need to conduct studies and analyze the
forecast demand of the community every year to release the estimated amount of
consumer demand in the future. Therefore, productivity needs to be increased to
meet the shortage that exists at certain times. Moreover, providing subsidies to
manufacturers can help increase production to meet the growing demand of the
people.
From the consumer's perspective, the rising cost of living can be avoided by
practicing thriftiness. Nowadays, consumers mostly shop based on their desires
rather than their needs. This situation occurs as a result of the influence of
mass media and celebrities who use social media to show their luxurious
lifestyles. The working-class should compare prices between supermarkets and
shops before making a purchase. The presence of supermarkets that sell wholesale
and reasonably priced goods needs to be increased, so that consumers can save
money when buying essential goods. In conclusion, controlling the rising cost of
living requires the cooperation of all parties involved, including the
government, suppliers, manufacturers, and consumers. |
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