Cheap today, can mean expensive tomorrow!

[CTO114]

Everyone loves a good deal, as a matter of fact, everyone loves to maximize utility, but cheap is rarely truly cheap.

When you buy cheap goods, here's what you also purchase;  lower quality materials, which will cost you more when you replace them, cheap production can also cause environmental degradation.

Furthermore, workers are likely to have underpaid wages, as a result of wanting to minimize overhead cost.

It can also affect the economy as a whole, as local industries will struggle to compete as a result of cheaper alternatives.

When we see cheap goods, we should also see a red flag!

[HustleZ]

When we see cheap goods, we should also see a red flag!

Unfortunately not many people have the choice of choosing an expensive better thing. They don't buy cheap things because they want to but because they don't have another choice. They know it's bad and even dangerous for us but what I'd that's the only thingin their budget. So we can't criticise people for buying "cheap" things though we can those people who buy cheap things just to stack and sva money for things that are really unnecessary like a gambling or an alcohol addiction because they are now guilty because they had the choice to choose better but didn't.

[passwordnow]

When we see cheap goods, we should also see a red flag!

Not at all. There are a lot of cheap goods that can also have good quality. This depends on the usage that we'll do with those goods. While I also like the more expensive ones because it means better quality. But, that doesn't apply at all times. These people are also businessmen and they know this logical thinking from the consumers that whenever something is more expensive than the other ones, it's more sturdy but not in all cases.

[Exitoral]

I have bought something that's cheap and in a long run cost me more. I have also bought something cheap and in a long run it saved me more. At the end of the day, what is the quality of the cheap thing you are buying. Because even expensive things also can cost you more in a long run.

I personally prioritize quality over the price. But also note that an inferior product can be sold as expensive price since you have in mind that expensive means quality.

As you rightly wrote. Cheap goods can affect economy, even expensive ones too can hurt the economy. All we need is balance. ♎

For me personally people buy cheap because that is what they can afford. Nobody wants inferior things. Sometimes, if corruption eats deep into an economy all that will be in the market will be inferior product being sold as expensive product.

Going for cheaper options is not always wise but going for quality always is. It also doesn't mean that it must be expensive.

What I go for is quality and it also has to be the one I can afford.

[Jewan420]

Have you seen people who have a lot of money buying cheap goods in the market? Eating cheap food? Wearing cheap clothes? If you see it, then it is definitely a choice or an option. But the poor do not have that option or they do not have the ability to choose them, they do not dare to ignore cheap goods and buy expensive goods. If they had the ability, then they would also try to give up cheap goods.

Despite the low quality of raw materials, they buy cheap goods out of necessity, they know the difference between cheap goods and expensive goods, which are made from high quality raw materials and which are made from sustainable or environmentally friendly products. Still, they have to be satisfied with buying goods made from low quality raw materials and environmentally friendly products in the market. Just as there are different levels of people living in a country, similarly, it is necessary to have different levels in the production of products.

[Cryptomultiplier]

Being able to afford cheap goods and services today might be because of delayed gratification of which we know that when we buy a cheaper alternative to the original, we are saving money for a better future or goal that needs to be achieved.
The cost of inflation is also responsible for most citizens buying cheap things because that's what fiat can afford unless one may have to forgo a whole lot of other things just to afford an original product.

Market sentiments contribute to making cheaper goods a better alternative because it could be believed in most cases that those original products are harmful or hazardous to human health, so buying the cheap products could be a path to simple living where health is preserved for longer.

[JoyMarsha]

When we see cheap goods, we should also see a red flag!

This is truth to some extent because there are products that is not advised to buy for cheap, if you are looking for long lasting products that will be in use for years. I wouldn't advise someone to think of buying cheap products when it is comes to electronic gadgets, soon to expire goods, stolen goods, and fake clothing materials and shoes.

For things like food condiments, drinks, and other things you can get from ordinary market, not super market will not be the same in price.  Buying cheap things in the market not super market won't be labeled as red flag because you buy directly from the market women who harvest food products from their farms and they are selling directly to the market, not at the supermarket that will add charges for preserving those food products for you.

[Donk1]

If I may say utility is the satisfaction a commodity gives to the consumer. So yeah each user of such a commodity will definitely have different opinions on how it worked for them even if a product is cheap, it doesn’t totally mean it doesn’t have quality.

​Basically the price of a commodity doesn’t make it have quality at times fake products are sold at a higher price after being bought from a cheap source. The only difference between a cheap and an expensive product most of the time is actually packaging.

​That said there are cheap things that are worth more than you actually bought them for e.g., clothes. And so yeah the only thing I wouldn’t agree a person buys cheap is assets like land, cars, and phones/gadgets. Basically, such commodities are often either stolen or fake that’s why even if you want to purchase such you must always have a document on it as proof, just in case it doesn’t give you the utility you wanted. Overall the value of any commodity is based on quality not price,the price only gives it an edge for compatibility to each individual........

[odunybiz]

I have bought something that's cheap and in a long run cost me more. I have also bought something cheap and in a long run it saved me more. At the end of the day, what is the quality of the cheap thing you are buying. Because even expensive things also can cost you more in a long run.

I personally prioritize quality over the price. But also note that an inferior product can be sold as expensive price since you have in mind that expensive means quality.

Location and environment for which product are sold may determine it's price. Do you know you can also buy an expensive item and still be fake? The same cloth Praise bought in a boutique at $100, I bought in a local shop around my street at $40. The same colour, fabric, texture and design, does that mean mine is inferior or fake? Even apart from environment or location, what if Praise was cheated were he bought his own. I'm not saying cheap items are often good but it isn't idea to judge an item quality by it's price. It's rather better to go for quality itself rather than judging with price.

[Rruchi man]

When we see cheap goods, we should also see a red flag!

"Cheap" does not always mean substandard; there are still some cheap goods that are still of quality materials just from a producer who fixes a different value based on a specific reason. Some producers may want to sell their products cheaper, maybe because they were able to procure raw materials for production at a cheaper cost than the other producers who fix high prices for their goods because they spent more on raw materials for production.

"Cheap" does not always mean substandard, just as "expensive" does not always mean quality.

[bangjoe]

There are many people who are concerned with quality and but more people are concerned with utility, I see that low prices with low quality but have the same function in the fulfillment of goods to support daily needs are more in demand, most of them are imported goods, therefore Chinese products are more in demand here and kill local industries in my country, This is not a lie, when the market is flooded with cheap goods it will greatly pressure competitors to have lower prices as well so that people's expectations are met, and when operating costs are higher than the profits generated because they have to reduce selling power, then the company can only cut the wages of its workers.
 

[Spaceman1000$]

Everyone loves a good deal, as a matter of fact, everyone loves to maximize utility, but cheap is rarely truly cheap.

When you buy cheap goods, here's what you also purchase;  lower quality materials, which will cost you more when you replace them, cheap production can also cause environmental degradation.

Furthermore, workers are likely to have underpaid wages, as a result of wanting to minimize overhead cost.

It can also affect the economy as a whole, as local industries will struggle to compete as a result of cheaper alternatives.

When we see cheap goods, we should also see a red flag!

I totally disagree with you, a product does not necessarily have to be expensive for it to be a good product in the market, cheap products or what you describe a cheap might be expensive to another person, so you don't use your income level to generalize on how prices of goods should be sold. Cheap doesn't mean fake, the product can as well be expensive but fake, in fact in reverse psychology most product that are sold expensive are fake because if they sell you cheap you will believe that it is fake.

[Coyster]

Furthermore, workers are likely to have underpaid wages, as a result of wanting to minimize overhead cost.

Every industry or organization minimizes cost or input. You need to understand that. Efficiency is what every organization strives to achieve, and efficiency is using as little input as possible to achieve the best outcome (goal or output). It has nothing to do with underpaid wages or being cheap, that's a different discussion.

When we see cheap goods, we should also see a red flag!

That is not always true. You'd have to analyse this on a case-by-case basis. For example, getting a cheap car does not mean you're getting a bad car. It simply means that you may miss out on more comfortable features that are present in newer and more expensive models. But you car still runs just fine and takes you from point A to point B safely.

[Callido]

When we see cheap goods, we should also see a red flag!

And how many people can afford the luxury goods or items?

Cheap also doesn't mean fake, it can mean reduced quality, which shouldn't be a red flag.

You pay for what you can afford, if every item is stamped at the prices of the highest quality, many individuals won't be able to attain things or own many things they do, i don't blame anyone settling for low quality product, that is what they can afford.

[Salahmu]

Everyone loves a good deal, as a matter of fact, everyone loves to maximize utility, but cheap is rarely truly cheap.

When you buy cheap goods, here's what you also purchase;  lower quality materials, which will cost you more when you replace them, cheap production can also cause environmental degradation.

Furthermore, workers are likely to have underpaid wages, as a result of wanting to minimize overhead cost.

It can also affect the economy as a whole, as local industries will struggle to compete as a result of cheaper alternatives.

When we see cheap goods, we should also see a red flag!

You can buy some goods that's very cheap but when you see the one that was highly bought you will see the cheaper you bought to be very quality than the one with high price, price are determined by the sellers and not buyers and some sellers doesn't regard there inferior goods cheap because even if it means to label them original to confuse you they would be willing to do it because they no that there is no returning after selling and the worst the person could do them is to stop buying from them so actually don't consider quality by the price but consider it with fact that you are sure of the standard. I have bought some things that's very cheap from how others bought there own do to how price varies but mine lasted even when there own had gotten bad.

[Jatiluhung]

Everyone loves a good deal, as a matter of fact, everyone loves to maximize utility, but cheap is rarely truly cheap.

When you buy cheap goods, here's what you also purchase;  lower quality materials, which will cost you more when you replace them, cheap production can also cause environmental degradation.

Furthermore, workers are likely to have underpaid wages, as a result of wanting to minimize overhead cost.

It can also affect the economy as a whole, as local industries will struggle to compete as a result of cheaper alternatives.

When we see cheap goods, we should also see a red flag!

But when it comes to low production costs and relatively low wages, this isn’t really a major issue if a country’s cost of living isn’t facing significant inflation. If the economy is stable and the financial cycle is functioning healthily in that country, then everything will be fine. Take China, for example. We know that goods from there are always offered at very low prices. And we also know that many of the world’s major industries have actually chosen to assemble or manufacture their products in that country. Even Apple does this, and many other world-class smartphone brands ultimately end up assembling their devices in China. But China is now advancing even further; in fact, its economic power is now believed to be beginning to dominate on a global scale. So I think this isn’t about being cheap. It’s about ensuring everything remains affordable for the public—which means balancing it with the public’s purchasing power. In fact, higher prices don’t guarantee improvement; they can actually trigger a decline in purchasing power. Remember, this is linked to inflation and deflation, which are like two sides of the same sharp blade.

[Accardo]

Prices grades demands and supply, some certain goods perked at a high price won't reach to the majority of people who can't afford it, the supply of such goods then gets stuck to the rich minority who are capable of purchasing the products, but the demands from the majority who wants that product never stops coming, giving an avenue to the counterfeit industry, one of the most successful industry in the history of economics, they now tend to make a replica of the same product to feed the ego and expectation of the majority that can't afford the original product, for a lesser price, thereby making more profits from selling low quality products to the masses.

[coupable]

As you rightly wrote. Cheap goods can affect economy, even expensive ones too can hurt the economy. All we need is balance. ♎

It is not possible to establish an economy that is based only on producing cheap products or the inverse. A balanced economy is where the individual can purchase his needs (basics) in a fair price in accordance with his financial status. In the most rich coutries where citizens are living luxury life, the market still need to import or produce popular products for cheap price because not all residents are rich and not all comers (tourists, workers) can live that luxurious lifestyle. Most of those countries have small population rate and the majority of residents are foregners coming to serve in small practical jobs.

[Makus]

First of all, expensive doesn't mean originality, even though cheap today might actually mean expensive tomorrow which is very normal.The prices if good today are way more expensive than where they were. For the fact that something is cheap doesn't mean that it is not authentic. Cheap doesn't always mean expensive tomorrow, there are some things that remain at the same amount due to some reasons but this isn't really the same for others. There are certain things that increase in value overtime and this can be caused by some other factors.

[uneng]

Cheap goods are unavoidable for most people nowadays. Gone are the days when you could acquire a long lasting good which would stay with you for decades in a functional way. Nowadays everything is made to last up to few years, because that is what makes the economy's machine going on.

Without cheap products, there wouldn't be cheap labor, and workers would perish without opportunities to work for a living. It's bad the way it is, but it could be worse without alternatives being pointed out before.

Truth is that if we had enough financial condition, we wouldn't be acquiring cheap products. We do this because there isn't another option available.