It is true that many families in the world live in debt, especially because of the risen costs of living against an unchanged disposable income. This situation has led to the springing up of many pay day loan institutions that issue loans payable at the end of the month or on payday. It’s also true, that these pay day loans attract outrageous rates of interest mainly due to the need of the client, as well as the payment periods attached. Just as the author has noted, the pay day loans only work to make matters worse for the already overburdened families.
As a solution to these problems, I agree with the opinion of the writer, that people should learn to live within their means, and if they are not informed on how to do this, then they should utilize the help of the many financial advisors, some of who offer to assist for free.
Third degree price discrimination
It’s agreeable, with the opinion of the author that the term third degree price discrimination would be unnecessary especially in cases where the price elasticity of demand is inelastic. Otherwise, what would be the motivation of lowering the prices mid week if the demand would not be affected? Would it not be prudent to maintain the same prices and cash in on the available number of customers than to reduce the prices with an unchanged customer numbers?
References
Check in to cash, 2013. Available at: http.//www.checkintocash.com
