An Investigation into the Various Socio-Economic and Psychological Impacts of Price Hike on Low Income Households in Khyber Pakhtunkhwa, Pakistan
International Journal of Academic Research in Business and Social Sciences June 2011, Vol. 2, No. 1
15 Pages Posted: 12 Jun 2012
Date Written: June 12, 2012
The terrestrial surface is confronting the jeopardy, facing the havoc and combating the atrocity of price hike that is worsening its social and economic spheres while bringing obnoxious results to the social stability and national development of the subject vulnerable masses. This study was conducted in District Swat, Khyber Pakhtunkhwa province of Pakistan, which evidently describes the socio-economic and psychological impacts of price hike on low-income households. Data was collected from 180 respondents of low-income households of the 4 Union Councils (Tehsil Matta) that were purposively selected through cluster sampling technique using interview schedule. The collected data has been assessed with the application of Chi-square test followed by tabular presentation in support with bar-charts, which have further been discussed on the basis of findings and results. The results show that price hike being a critical and sizzling phenomenon has numerous consequences upon the socio-economic and psychological well-being of low-income households, which demoralize their overall prosperity. The study strongly recommends awareness among masses, need based planning and practice of proper policy, confrontation and penalty to the misdemeanors and hoarders, International Journal of Academic Research in Business and Social Sciences and remunerative role of mass media are foreseeable that may bring assistance in alleviation of the curses of price hike.
Keywords: Price hike, Low-income, Households, Crises, Impacts, Social, Economic
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