Due to technological advancements, multinational corporations have significantly increased their production of essential goods at an affordable price to maintain a balance between social welfare and profit. This essay will first demonstrate how having goods at a reasonable price will harm environmental efforts mega sites as led to overconsumption followed by merits such as affordability, luxury, lifestyle.
To commence with, disadvantages of having consumer goods at a cheap price will affect ecosystems as with the high demand supply will rise sufficiently. To explain it by having an increased production, waste throw result there will difficulty in recycling by-products. Additionally, there will be an overconsumption of some goods as they fall under the budget of a typical family. For example, a season sales such a black Friday and boxing day, people usually buy things that they do not even need. Another fact to consider is, in order keep their profits, employers pay their workers on low wages for instance grocery stores like superstore and Walmart pay their workers low salary to keep themselves in profit.
On the other hand, there are numerous advantages of having products at low prices, firstly it increases the affordability of every individual as everyone can be able to buy the items they need to elaborate even a lower middle class family can be able to enjoy the taste of a luxury life by having expensive items in their budget. Secondly, by purchasing products at low cost dwellers can saving money that they can utilize in covering their other needs. For example, Walmart has a policy to “save many and live better” they are making less money on each product they sell by having low margin of them.
To conclude, budget friendly products are cost efficient for everyone but drawbacks cannot be ignored as they will impact environment at a larger scale and there will be an unnecessary buying of lower cost items.