Generally Speaking

How can they just raise the price?

Though many of us fret at price hikes in the times of crisis, this is just a normal occurrence, as economics tells us

How can they just raise the price?

Imagine this situation: it's raining cats and dogs and you need to get to a friend's birthday party on time. The friend has already called twice to check if you have left from your home. But you haven't simply because it's raining heavily and there is no transport available. You can't see any auto-rickshaws lined up from your balcony. No buses have crossed for a while. You have tried telling your friend that it's pouring, but he is in no mood to listen to you. He has offered to drive down and pick you up for the party. Of course, you want your friend to enjoy the party and not spend time in a car trying to ferry you to the party. Given this, you have told him that you will somehow manage to get to his place. At that point of time you decide to book a cab through a mobile-phone app. The app has been there on your phone for a while, but you seem to favour the local autos and taxis because that is your way of keeping their employment going. As you get ready to book a cab, you are surprised to see that the price of the ride which is offered upfront is three times the normal fair. Not surprisingl

This article was originally published on January 04, 2021.


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