Increase In Price Of Goods Research Articles

EXAMINE THE EFFECTS OF GOODS AND SERVICES TAX (GST) AND ITS COMPLIANCE: REFERENCE TO SIERRA LEONE

This study analyzes the effects of (GST) and how it is being implemented in Sierra Leone. GST replaces previous taxes, including domestic sales tax, import sales tax, entertainment tax, hotel room tax, restaurant tax, food tax etc. The objectives of this study are to know the effect of GST on the Sierra Leone Economy, to know if GST implementation will lead to an increase in prices of goods and services; to assess GST compliance rate in Sierra Leone; and to know the reasons for GST implementation in Sierra Leone. The data collection method used both primary and secondary sources the study's participants were 89 employees of NRA and business owners in Sierra Leone 2021 to 2023. Questions were analyzed using SPSS in the form of descriptive analysis, chart, and correlation coefficient. The results showed that GST implementation has positive effects on Sierra Leone Economy. The introduction of GST is to boost revenue and promote economic growth in Sierra Leone. GST introduction in Sierra Leone has resulted in increased prices of goods and services. It is recommended that the NRA should provide tax education and awareness and provide availability and accessibility of technological infrastructure for GST implementation in the country.

EXAMINE THE EFFECTS OF GOODS AND SERVICES TAX (GST) AND ITS COMPLIANCE: REFERENCE TO SIERRA LEONE

This study analyzes the effects of (GST) and how it is being implemented in Sierra Leone. GST replaces previous taxes, including domestic sales tax, import sales tax, entertainment tax, hotel room tax, restaurant tax, food tax etc. The objectives of this study are to know the effect of GST on the Sierra Leone Economy, to know if GST implementation will lead to an increase in prices of goods and services; to assess GST compliance rate in Sierra Leone; and to know the reasons for GST implementation in Sierra Leone. The data collection method used both primary and secondary sources the study's participants were 89 employees of NRA and business owners in Sierra Leone 2021 to 2023. Questions were analyzed using SPSS in the form of descriptive analysis, chart, and correlation coefficient. The results showed that GST implementation has positive effects on Sierra Leone Economy. The introduction of GST is to boost revenue and promote economic growth in Sierra Leone. GST introduction in Sierra Leone has resulted in increased prices of goods and services. It is recommended that the NRA should provide tax education and awareness and provide availability and accessibility of technological infrastructure for GST implementation in the country.

Kajian Peranan Sektor Ekonomi Basis Terhadap Produk Domestik Regional Bruto (PDRB) Kabupaten Lamongan Tahun 2022

The improving condition of the regional economy can be seen through economic growth, of course this cannot be separated from the support of an increase in investment value. Lamongan Regency's long-term economic development aims to increase sustainable economic growth by providing investment opportunities for investors. A good investment climate is needed by investors so that their investments have a positive impact. Regional economic development hopes to have good progress and can increase the GRDP of Lamongan Regency. Various efforts have been made by the regional government to promote Lamongan Regency with the aim of attracting investor interest so that GRDP and Regional Income increase, as well as having a direct impact on equitable development in all fields. In this situation, there needs to be a phenomenal instrument to encourage the investment climate, by calculating 17 GRDP economic sectors, to find out which economic sectors have a basic economy, and this needs to be supported by the Lamongan Regency Regional Regulation. The GRDP of Lamongan Regency from 2017-2021 is a description of the economic activities of 17 GDP economic sectors which are experiencing fluctuations. Economic structure based on business field, rate of economic growth in a region, increase in prices of goods and services over one year, determination of base and non-base sectors, development of investment value based on target and realization, development of gross fixed capital formation, investment opportunities seen through the ICOR approach . The role of regional government as regional leaders and OPD as regional government organizers, needs to support economic activities so that GRDP in 2022 increases. Using the ICOR value can predict the amount of investment in the four sectors, namely the Agriculture, Forestry and Fisheries sectors amounting to IDR 7,115,508,510,000.00, the Processing Industry sector amounting to IDR 12,289,068,850,000.00, Wholesale and Retail Trade sector; Car and Motorbike repairs amounting to IDR 21,761,325,480,000.00, Real Estate sector amounting to IDR 2,809,442,040,000.00. This results in a prediction of the GRDP value increasing to Rp. 28,853,394,420,000 and investment/capital investment requirements to increase the GRDP of Lamongan Regency amounting to Rp. 15,580,832,990,000.00, this economic sector needs to be supported by a Regional Regulation concerning Providing Incentives and Facilitation of Regional Investment which has a positive impact on Investment and absorbs Lamongan Regency workforce.

Goods and Services Tax vs. Sales and Services Tax: Different Structures Impact on the Households’ Expenditure Pattern

The implementation of Goods and Services Tax (GST) in April 2015 has received criticism due to the significant increase in prices of goods and services. To contain this issue, the Malaysian government has decided to replace GST with the former SST system effective September 2018. However, this decision leaves the public with more questions regarding its impacts on households’ expenditures. To address these questions, this study is outlined to estimate the impacts of GST rates and SST on households’ expenditures. The method use for this study is input-output model in which each of tax variables were identified as items “taxes on products (domestic)” in the input-output table. Findings reveal that GST rates tend to reduce prices, which results in the reduction of expenditures for different household groups. In contrast to GST, SST is estimated to bring undesirable impacts for the households’ expenditure. The HES suggests that the main type of expenditures undertaken by households are on Food & Non-Alcoholic Beverages and Housing, Water & Fuel, the increase in production cost of these groups of goods and services will lead to price hikes that result in the rising cost of living. Particularly, the findings indicate that every different household group (Bumiputera by strata, non-Bumiputera by strata, T20, M40 and B40) are heavily affected as most of the expenditures increment are sourced from Food & Non-Alcoholic Beverages. Yet, the findings from this study disregard the real situation because the impacts of other cost-push components are not taken into account.

The Phillips curve in agriculture: interaction of inflation and unemployment

The goal is to analyze the manifestation of the Phillips curve on practical material. Methods – comparative, systemic, statistical, classification. Results – the authors examine the relationship between inflation and unemployment from 1991 to 2021 in the Republic of Kazakhstan through the Phillips curve. The possibility of its application for Kazakhstan economy is considered. The relevance of the article is determined by the fact that in agriculture, depreciation of money and unemployment has negative impact in the form of disproportionate development, reduced investment activity, socio-economic instability, underproduction of gross product, and redistribution costs. This requires assessment of current trends in labor market, which is an indicator of living standard of population. The degree of inflationary processes (independent variable) and unemployment (dependent variable) in dynamics for domestic agricultural sector is analyzed. The relationship of human potential with the rate of decline in purchasing power is reflected. Using statistical data, Phillips curve was constructed for a longterm period. Correlation comparison of unemployment and increase in prices for goods and services has been carried out. The dependence between the studied variables for agro-industrial complex of the republic was tested. Conclusions – the results indicate the presence of relationship which is consistent with scientific concept of A. Phillips between inflation and unemployment in certain years. The periods when there is no feedback between them predominate. There is a simultaneous increase in inflation and unemployment and their decrease. However, even after 64 years, the Phillips curve, supplemented by the studies of E. Phelps and M.Friedman, is a tool for macroeconomic analysis, implementation of macroeconomic knowledge.

The state of regional economic security and the directions of its provision

Today, in an unstable international political situation, the urgent issue of ensuring national and regional economic security is more urgent than ever. Ensuring the stability of indicators of economic processes is to develop and improve a flexible system of protection measures against adverse external and internal factors and threats. It is the minimization of the impact of threats, as well as ensuring the stability and security of the economy in critical conditions that constitutes the essence of economic security. Based on objective and subjective factors, the subjects of the Russian Federation differ significantly in the level of socio-economic development and, as a result, in the level of economic security. Such a spread cannot but affect the level of security of the entire state. Regional specifics must necessarily be applied when assessing threats to economic security at the country level. In 2019–2020, the COVID pandemic significantly affected the state of not only regional, but also national economic security. The measures taken by the Government of the Russian Federation to stabilize the economic situation had a positive effect, but cost significant additional costs to both federal and regional budgets. Despite government support for business, there was a decline in the quality of life in the country, an increase in unemployment due to the reduction of staff by many enterprises, a reduction in workers' wages and other socio-economic phenomena that we consider as sources of risks and threats to economic security. As part of the study, an analysis of the state of economic security of the Voronezh region was carried out, threats to its economic security were identified and assessed. The state of economic security of the region in the period under study was negatively affected by: a significant increase in inflation against the background of the global crisis in 2020, a decrease in the share of investments in fixed assets, a drop in the index of industrial production, a drop in innovation activity, an increase in social tension. At the same time, the retail trade turnover per capita was marked by positive dynamics, the share of citizens with incomes below the subsistence minimum decreased, and the gross regional product grew. Among the threats to the economic security of the region, the most dangerous are: the increase in prices for goods and services, the slowdown in the growth of innovation and investment activity, the deterioration of the social sphere.

The Assessment of Legal Constructs Protecting Taxpayers Against of Inflation in the Personal Income Tax and the Inheritance and Donation Tax

One of the factors negatively influencing an assessment of the tax liability is inflation. An increase in prices of goods and services without simultaneous adjustment for inflation of the construction elements sensitive to erosion, or lack of application of an effective corrective mechanism, leads to a gradual reduction in the taxpayer’s ability to pay. This results in a violation of the principle of tax justice, even in a situation where the provisions of tax law are formally correct. The aim of this article is to answer the question whether there are any legal constructs in Poland that protect taxpayers against the negative impact of inflation and, if so, whether they protect them effectively. The article analyses legal regulations contained in the Personal Income Tax Act and the Inheritance and Donation Tax Act which refer to structural elements of taxes expressed as an amount. The research covers the period of over thirty years, i.e. from the beginning of social and economic changes in Poland, characterised by high inflation, to the present day.

Perception of the Effects of Charcoal Production on Rural Households in Kwara State, Nigeria.

The study examined the rural women’s coping strategies against the effects of covid-19 pandemic in Ilorin East Local Government Area of Kwara State, Nigeria. Eight five respondents were randomly selected in seven communities for the study. The data was collected using frequency count, percentage, mean and Pearson Product Moment Correlation (PPMC). The result reveals that all the respondents (100%) were aware that covid-19 had been declared as a pandemic. The increase in price of goods and services (= 4.59) was the highest ranked perceived effect of covid-19 pandemic on the respondents. Rearing of animals (= 1.46) was the highest ranked coping strategy adopted by the respondents against covid-19. There is significant relationship between coping strategies and perceived effects (r=-0.207, p=0.057) at 10% level of significance. The study there recommended that there should be provision of more awareness on covid-19 pandemic and there should be creation of additional job opportunities in the rural areas for women who are affected by covid-19 pandemic.

Rural Women’s Coping Strategies Against the Effects of Covid-19 Pandemic in Ilorin East Local Government Area of Kwara State, Nigeria

The study examined the rural women’s coping strategies against the effects of covid-19 pandemic in Ilorin East Local Government Area of Kwara State, Nigeria. Eight five respondents were randomly selected in seven communities for the study. The data was collected using frequency count, percentage, mean and Pearson Product Moment Correlation (PPMC). The result reveals that all the respondents (100%) were aware that covid-19 had been declared as a pandemic. The increase in price of goods and services (x ̅= 4.59) was the highest ranked perceived effect of covid-19 pandemic on the respondents. Rearing of animals (x ̅= 1.46) was the highest ranked coping strategy adopted by the respondents against covid-19. There is significant relationship between coping strategies and perceived effects (r=-0.207, p=0.057) at 10% level of significance. The study there recommended that there should be provision of more awareness on covid-19 pandemic and there should be creation of additional job opportunities in the rural areas for women who are affected by covid-19 pandemic.

Model Pengembangan Ekonomi Kreatif Bagi Usaha Mikro Kecil dan Menengah di Tengah Ancaman Resesi Ekonomi Berdasarkan Syirkah Mudharabah

This research is motivated by the existence of a recession in Indonesia, where the recession affects and has an impact on economic activity, such as a decrease in investment, the level of production or commodities, an increase in unemployment, an increase in prices for goods in general (inflation), a reduction in subsidies and government funding, and a decrease purchasing power and public consumption, which of course also has an impact, especially on Micro, Small, and Medium Enterprises (MSME). In this regard, it is necessary to develop MSME in the midst of the threat of an economic recession, one of which is through business cooperation based on syirkah mudharabah. Research that uses the normative legal research with the statute approach, and conceptual approach, results in findings, namely the concept or model of creative economic development for MSME in the midst of an economic recession based on syirkah mudharabah. This model is expected to be used by business actors to develop MSME amid the Covid-19 pandemic.

An inventory model displayed stock and price dependent demand under non-instantaneous deterioration with inflation for partially backlogged shortages.

In this paper we have considered stock and price dependent demand and developed a non-instantaneous economic order quantity model for decaying goods under inflation. Shortages are allowed in this model and they are partially backlogged. Stock and price constantly plays an essential part and influence the demand rate. Demand function is depending on price and stock. Deterioration of the growing inventory can be understood as when stock remains for a longer period in a vendor's home following that deterioration will begin with price and stock dependent demand. It is implicit that the deterioration rate arises as soon as items are received into inventory. Aside from deterioration, the effect of inflation is another important factor of inventory. General increase in price of goods is reflected due to decrease in the purchase power of money is inflation. The plan of this representation is to establish the best solution including the estimated Total cost (Holding cost, Shortage cost, Ordering cost, Deterioration cost, Purchase cost, partially backlog cost) diminished. Additional, compulsory and satisfactory circumstances are afforded to illustrate the survival and exclusivity of the best solution. Here we have solved this problem by using Wolfram Mathematica 12.0 software. Lastly, numerical exemplifications, perceptivity study all along graphical demonstrations are revealed to exemplify the realistic purpose of the projected model.

Impact of Tourism Activities on the Economy of the Community in The Coastal Area of Langkawi Island, Malaysia

This article aims to identify the impact of tourism development among the community in Langkawi Island, Malaysia. This study uses a quantitative approach. The data used impact data collected primarily using a questionnaire given to 400 respondents among household heads. The analysis used is descriptive. The results showed that there must be a development impact, with more than 64 percent agreeing on the existence of the impact and felt by them in various economic matters. More than 80 percent of the community noted increased living standards, employment opportunities, income, investment interest, business, and ancillary income. This increase also negatively impacted the increase in prices of goods, services, real estate, housing, and cost of living. Significant changes can sprout up with the ability to own luxury items such as computers, mobile phones, ovens, microwave ovens, washing machines, air conditioners, vacuums, and water filters compared to 2000. In conclusion, the development of tourist land use dominates Langkawi Island, particularly positively impacting the local economy. The implications of this study can show how specific development planning such as tourism can have a positive impact and needs to remain further enhanced with the presence of specialized agencies such as the Langkawi Development Authority (LADA).

Features of small business development in modern conditions: pandemic crisis and foreign experience

The article analyzes the foreign experience of small business development in the context of the COVID-19 pandemic. In the course of the study, statistical methods of information processing and methods of comparative analysis were used. Small business is a priority tool for economic growth. The consequences of the current crisis are manifested in a decrease in the level of employment of the population and purchasing power, an increase in prices for goods and services, a change in the structure of the labor market and an increase in the level of poverty of the population. Small business sets itself the task of developing and implementing innovative technologies. This is especially relevant in new crisis conditions, when there is an active use of digital technologies and it is necessary to respond quickly and adapt to changes in the external environment. Therefore, the topic acquires its relevance and significance in the rapidly changing circumstances of the modern world.

THE COADJUVANCY OF THE MALAYSIAN REGULATORY POLICIES IN ADDRESSING THE CARTEL ACTIVITIES IN MALAYSIAN CORPORATIONS

Cartels pose significant turbulence in many aspects, ranging from the increase in prices of goods and services to affect long-run economic growth and productivity. In 2010, the Competition Act was formulated to promote economic development by promoting and protecting the process of competition, thereby protecting the interests of consumers and to provide for matters connected therewith. However, in terms of the enforcement of the Act, Malaysia is still at the infancy stage. Hence, this paper attempts to examine the effectiveness of the Act in mitigating the cartel activities in Malaysia. Besides that, this paper also attempts to examine the collaborative feasibility between the Competition Act 2010 and Whistleblower Protection Act 2010 (Regulatory Policies) in addressing the cartel activities in Malaysian firms. This paper also offers suggestions to the policy makers to strengthen the feasibility of the Competition Act. Methodologically, an extensive literature review was carried out by the researchers based on the policies formulated in Malaysia and developed countries. A content analysis was also performed to identify major themes and delineate a crucial means to address cartel activities in Malaysia. The finding of the study revealed that there is a room for improvement in the Malaysian Competition Act 2010. Besides, the collaborative action between two regulatory policies are significant and it would be able to curb the cartel activities in Malaysia.

ВИЗНАЧЕННЯ ЕЛАСТИЧНОСТІ ПОПИТУ НА ТОВАРИ СПОЖИВЧОГО КОШИКА

The article considers structure of the consumer basket for one child, one workable and one incapable person. As a result, we figured that some products in the consumer basket are completely absent. For example, it does not include baby food, namely mixtures for newborns, which for reasons beyond their control a simply essential for nutrition. Features of consumer basket formation were analyzed. It was concluded that from 2000 to 2015 government did not review consumer basket at all, thus it did not make any changes in it. Keeping in mind that according to the law at that time, such procedure had to be done every five years. It is determined that most of their income Ukrainians spend on food, resulting in an average of 65%, although as reported by experts, only a third of income is supposed to be allocated for food. A comparison of consumer baskets in Ukraine and other countries. As a result of this comparison, we came to the conclusion that in Ukrainian consumer basket there are no such expenses as Internet, computer equipment, fuel and car repair, without which it is difficult to imagine life of a modern person. The elasticity of demand for consumer goods is calculated. As a result of these calculations, we came to the conclusion that most goods in it are inelastic demand, meaning the magnitude of demand changes by a smaller percentage than the price. We also assessed how changes in income affect the consumption of major food groups (meat, milk, fish, fruits, vegetables). We concluded that the lowest level of elasticity is wheat bread (0.073), potatoes (0.074) and buckwheat (0.09). Also there are products in the consumer basket with single elasticity. Meaning, with an increase in household income by 1%, their consumption will increase by the same amount. Dried fruits and dairy products can be considered as goods that have a single elasticity. There are also products that are in elastic demand, they include some cereals, tea, coffee and spices. Despite the increase in the minimum wage over the past five years, increase in prices for goods and services has had a negative effect. Given the current situation in our country and in the world, caused by the global Covid-19 pandemic, consumer basket should include products such as masks, antiseptics and gloves, because at the moment each of us spends a significant part of the budget on them.

The Role of Direct Marketing in the Development of Russian Small Business

In conditions of intense competition in a crowded market, when the struggle is for each customer and the products are customized for a very narrow marketing niche, the use of generally accepted marketing brand communications in small business is tantamount to ruin. The article substantiates that creating a brand should not be the goal of a small business, but should be an enjoyable side effect of direct marketing. The main idea of the article is that a multiple increase in prices for goods and services is possible without significant growth in the cost price in small companies by selecting the most highly profitable customers, creating an individualized marketing message and selecting the relevant message channel. The author cites some aspects of direct marketing tools, given the high information noise in the media and the "advertising blindness" of potential customers. The article contains recommendations for various types of small businesses on the use of classic offline direct marketing tools.

The Effects of Rolling Back State Frontiers on the Development of Nigeria’s Economy (2003 – 2007)

Abstract The study focused on the deregulation of the downstream of Nigeria’s petroleum sub-sector as an aspect of Rolling back the state in Nigeria. Deregulation of the downstream of the petroleum sector is occasioned by the removal of subsidies on petroleum products. This paper is adapted from my Ph.D research work at the University of Nigeria, Nsukka on rolling back the state. The objective was to examine the impact of deregulation of the downstream of the petroleum sector on the road transport sectors of the Nigerian economy within the period 2003-2007. Data for the study were generated through the observations of primary and secondary sources. The data were analysed using tables, percentage and correlation analysis. The findings of the study shows that deregulation of the downstream of the petroleum sector allowed the private sector owned road transportation system to increase the cost of transport fares anytime the government announced increase in the pump price of products. An increase in the cost of road fares translated into increase in prices of goods and services which ultimately resulted in inflation. Equally the huge amount derived from petroleum has not been judiciously expended for building and construction of roads. The research recommends that government should monitor the execution of road contracts to guard against none and poor delivery of jobs.

Privatisation of Electricity and Socio- Economic Development in Akure, Nigeria

Electricity supply by PHCN in Nigeria was unsteady, ineffective, inefficient and intermittent resulting in persistent power failure. In a bid to improve the power supply, the Federal government privatised the power sector. This paper examined the impact of privatisation of electricity on the socio-economic development of Akure urban city. The research methodology consisted of the distribution of 200 questionnaires through systematic random sampling of one in every five flats. The streets of Isolo, Arakale, Oba-Adesida and Oke-Ijebu were consequently examined using 50 questionnaires in each of them. The result revealed that privatisation had not improved the power supply which has a deteriorating effect on the socio-economy as follows: generators were used to supplement power supply with a resultant increase in prices of goods and services thus inflicting hardship and poverty on the people; power had affected home equipment negatively and reduced effective working hours. More People resort to the use of old and obsolete bulb which consume more of the available electricity. The paper therefore recommended dynamic legal system that can stimulate investment in the power sector. The paper concluded that socio-economic development of Akure can be greatly enhanced with effective, efficient and reliable power supply which privatisation is capable of ensuring. Key Words: Privatization, Electricity, Socio-Economic, Development, Urban City.

Grocery Consumers Purchase Preferences for Buying from Traditional and Modern Shops

The Traditional Grocery market consists mainly of Kirana, Wholesalers, Grahak Panchayat, and KiranaSupermarket. Kirana shops are generally situated close to or within residential areas often in the ground floors of residential buildings. Wholesalers are situated in areas which conventionally are in designated wholesale market areas. Mumbai Grahak Panchayat is the largest voluntary consumer organization in Asia, having distribution centers in Mumbai, Thane, Palghar, and Raigad. KiranaSupermarkets were traditionally Kirana shops now converted into mini supermarkets with self-service and trolleys to move around in isles within the shops. With the opening of Modern Shops Traditional retailers have lost a share of the customers purchasing basket. Food is a basic requirement of all people irrespective of their class or status in society. Groceries are required for daily life. Increasing inflation and the increase in prices of goods makes the purchase of groceries a sensitive area for consumers who require purchasing day in and day out. With an increase in competition amongst retail formats, consumers have wider choices from where they can shop. A Quota Sample of 559 Households of Low, Medium, and High income groups was studied through the Survey method, in Thane City, Maharashtra, India. This paper attempts to study where consumers purchase their groceries from amongst formats such as Kirana, Wholesalers, KiranaSupermarkets, and Modern shops. An analysis of the Input, Throughput, and Output shows three areas of Procurement, Value Addition, and Marketing & Selling that present strengths, weaknesses, opportunities, and threats for traditional and modern retailers.

Physical planning implication of Eyo festival in Lagos Island, Nigeria

The study examined the physical planning implications of the activities that interplayed during Eyo festival in Lagos Island, Nigeria. Systematic sampling procedure was employed to obtain data for this study. It was revealed that Disruption of local activities (RKI = 5.0), Street littering (RKI = 4.40), Street Trading (RKI = 4.38) and Increase in price of goods (RKI = 4.38) among others are the challenges faced by Residents. However Environmental (28.83% variance explained and Eigen value of 6.343), Socioeconomic (25.15% variance explained and Eigen value of 5.533), Cultural (9.50% variance explained and Eigen value of 1.991) and Security implications (8.22% variance explained and Eigen value of 1.809) are the planning implications of the festival as established by the findings. The study therefore concluded that cultural festival attracts both positive and negative impacts.