From expensive to expensive
One of the pillars of microeconomics is based on the principle of marginal utility, which dictates that the quantity of demand decrease as the consumer’s levels of saturation increase based on the calculation of the cost of the additional unit. In simple language, and from our Arab heritage, the story of Harun al-Rashid with Ibn al-Sammak, where Harun was asked, “If I prevented you from drinking this cup, how much would you ransom it for?” Harun said with half a king!
He said – Ibn Al-Sammak – after Al-Rashid had quenched his thirst and removed the blood from it: If you prevent it from leaving your body, how much can you ransom it? He said with what is left, Al-Sammak replied: There is no good in a kingdom worth a drink of water!
The more urgent the need, the greater the demand for it and the greater its value. Between the Covid vaccine and user privacy, company stocks fall and rise. After a cup of coffee did not exceed 15 riyals, it now approaches forty, as a result of the coffee shop’s need to photograph and make times. The real moral dilemma lies in the consumer complaining about the high value he gave to the product. Not only that, but the consumer has also started complaining about the product in front of the producer to no avail. Despite the change in WhatsApp privacy policies, consumers are still complaining through the WhatsApp application itself, instead of Use any other competing application, taking into account the lack of cost of switching between applications.
This economic philosophy led the world into isolation that lasted nearly a year, as pharmaceutical companies remained silent and a vaccine was not seen until the beginning of the twenty-first, and it made the widest oceans constrict with carriers of black gold in confusion.
This very philosophy requires us to reconsider our behavior, to curb our desires, to equate essence with appearance, nothing less and nothing more. Without positive contribution and effective participation by consumers, we will not reach the port of the free market.
