Wants evolve with rising incomes, technological progress and changing lifestyles. This forces producers to innovate and supply newer products. All wants cannot be satisfied because productive resources are limited while desires remain infinite.
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Morning tomatoes command high prices because they are completely fresh and customer footfall peaks. By evening, vendors drop prices sharply to quickly sell off perishable inventory and avoid total financial loss overnight from rot.
Vegetable prices fluctuate drastically due to seasonal changes and fluctuating supply levels. Heavy rains, droughts or pests lower harvest yields, driving prices upward, whereas bumper harvests create massive excess market supply, causing steep price falls.
No single individual or authority decides vegetable prices in the market. Instead, prices are determined collectively by the free interaction between overall consumer demand and the total available supply brought by local vendors and farmers.
No single individual or authority decides vegetable prices in the market. Instead, prices are determined collectively by the free interaction between overall consumer demand and the total available supply brought by local vendors and farmers.