Persistent Price Increase of Goods in Enugu State: Postgraduate Students of Business Education Perspective

Solomon, Uchenna Agbo *

Department of Business Education, Faculty of Vocational and Technical Education, University of Nigeria, Nsukka, Nigeria.

Nnamani, Victoria Obiageli

Department of Business Education, Faculty of Vocational and Technical Education, University of Nigeria, Nsukka, Nigeria.

*Author to whom correspondence should be addressed.


Abstract

The main aim of the study was to determine the persistent price increase of goods in Enugu State: postgraduate students of business education perspective. The study contains three specific purposes. Also, the study was guided by three research questions and three hypotheses. The study adopted descriptive survey research design. The population of the study was 68 postgraduate students of Business Education with registration number ranging from 2019-2022. The sample size for the study was 58 which were obtained using Taro Yamane. The sampling technique used was convenient sampling technique. Producer Wholesaler Retailer Responsible Factors Questionnaire (PWRRFQ) was used as the study instrument. Face validation was done by three experts in the field of business education and measurement and evaluation. The internal consistent of the instrument was determined through the use of Cronbach Alpha and the results of 0.88 which shows that the instrument was highly reliable. Mean and standard deviation were used in analyzing the research questions while t-test statistic was used in analyzing the hypotheses that guided the study. The finding of the study shows that the Producers, the Wholesaler and Retailers are all responsible factors for the persistent increase in the prices of goods in Enugu State. The study recommended that government should subsidize fuel for businesses since all the three factors that were responsible for the persistent increases in the prices of goods lay causes on transportation cost of moving the goods. Finally, conclusion was drawn.

Keywords: Goods, price, producers, wholesalers, retailers, and gender


How to Cite

Agbo , S. U., & Obiageli , N. V. (2023). Persistent Price Increase of Goods in Enugu State: Postgraduate Students of Business Education Perspective. South Asian Journal of Social Studies and Economics, 20(3), 48–56. https://doi.org/10.9734/sajsse/2023/v20i3712

Downloads

Download data is not yet available.

References

Mendes A. On the concepts of goods and services; 2009. Retrieved on 10 December, 2022 Available:https://www.researchgate.net/publication/301502044

Ariel Community Academic (2012). Goods and services. Retrieved on 10 December, 2022 from edutopia.org/stw-financial-literacy-resources-lesson-plans

Kotler P. Marketing management (10th ed). Upper Saddle River, NJ: Prentice Hall. 2000;456.

Manjula J. A review on the variables that influence product pricing and decision. Journal of Contemporary Issues in Business and Government. 2021;27(3): 786-792.

Kannan PK, Kopalle PK. Dynamic pricing on the Internet: Importance and implications for consumer behavior. International Journal of Electronic Commerce. 2001;5(3):63-83.

Kuzman B, Prdić N, Dobraš Z. Značaj veletržnice za trgovinu agroindustrijskim proizvodima. Ekonomika poljoprivrede. 2017;64(3):1177-1190.

Prdić N. Konkurentska prednost veletržnice kao kanala distribucije. Agroekonomika, Poljoprivredni Fakultet Univerziteta U Novom Sadu. 2016;72:51-63.

Hamilton R, Chernev C. Low prices are just the beginning: Price image in retail management. Journal of Marketing. 2013; 73:1-20.

Anderson G. (2005), “Does target have an image problem?” Retrieved on; 2022. Available:http://www.retailwire.com/discussion/ 10893/ does-target have-an-imageproblem]

Ezeudu SA, Jolaosho RA, Dajan HJ. Perceived factors responsible for economics students poor performance in mathematics for economics in two states colleges of education. IOSR-Journal of Research & Method in Education (IOSR-JRME). 2020;10(3):7-13.

Polycarp M, Dauna Y, Musa S, Ja`afaru J, Ibrahim AK. Analysis of producer price of rice in Nigeria. The International Journal of Science & Technololedge. 2019;3(10):91-96.

Ulke V, Ergun U. The relationship between consumer price and producer price indices in Turkey. International Journal of Academic Research in Economics and Management Sciences, 2014;2-18.

DOI: 10.6007/IJAREMS/v3-i1/607

Reddy BS, Chandrashekhar SM, Dikshit AK, Manohar NS. Price trend and integration of wholesale markets for onion in metro cities of India. Journal of Economics and Sustainable Development. 2012;3(7):120-130.

Podpiera J, Rakova M. The price effects of an emerging retail market. Working paper series of Czech National Bank; 2008.

Retrieved on December 27th, 2022 Available:http://www.cnb.cz

Law Insider (nd). Price increase definition. Retrieved on 10th December, 2022 from Available:https://www.lawinsider.com/dictionary/price-increase

Martin Andrew, “Whole foods looks for a fresh image in lean times,” The New York Times; 2008.

(accessed December 7, 2022), Available:http://www.nytimes.com/2008/ 08/ 02/ business/02food.html