More efficiently run companies with greater economies of scale should then be able to offer you and me, consumers, better priced goods and services. Except, it doesn't always work out that way.If you've glanced at the TV or even only casually read the news in the past year, you'd have been hard pressed to avoid the onslaught of stories about the "cost of living".
Not everyone, however, is doing it tough. In the past few weeks, several big firms have reported stellar profits in the December half year and have been showering their investors with cash.Negotiating for lower prices at checkout is unlikely to bring success at Australia's supermarket giants. In a theoretical free enterprise system, supply and demand are supposed to determine price. But for that neo-classical model to work properly, one of the key conditions is that there should be many buyers and many sellers.
In a properly competitive capitalist economy, they wouldn't be able to simply look at their costs and then just add the profit margin they'd desired
small consumer market, relatively small domestic demand, small population. australian are typically price takers, even with our large exporters (be it from old days of wool, to our present coal, sugar, lobster, etc). so, can squeeze $ out of australian consumers.
Is that so?
because they have no customers?
We are constantly bombarded with advertising for a need to consume products which in reality we don't really need ,whether its that new phone or 5 presents for the kids at christmas instead of 2 .We are indoctrinated from an early age and fall into the claws of big business
The collapse of fiat and the incoming cbdc…or depop
Yeah, it's just like politicians always getting pay rises and generous super.
mergays the first headline was better. backpedaling only an hour after posting to soften the tone is a cowardly look for a news outlet