Tema traders taking advantage of surge in COVID-19 cases to increase nose mask prices

Tema traders taking advantage of surge in COVID-19 cases to increase nose mask prices

- Since the surge in the COVID-19 cases, traders in Tema have decided to take advantage of the situation

- This situation has forced traders to increase the prices of the protective gear, for monetary gains considering the fact that the demand has gone up

- Some traders confirmed that people started rushing in for the mask when it was revealed that kids are also contracting the virus

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As the coronavirus cases keep surging with a terrifying daily death toll, traders in Tema have decided to take advantage of the situation.

Nose masks have been proven to be one of the effective protocols put in place by the World Health Organisation(WHO) to prevent the spread of the virus.

The demand for nose mask has dramatically increased following the surge in Ghana's COVID-19 cases.

Tema traders taking advantage of surge in COVID-19 cases; increases prices of nose masks

Tema traders taking advantage of surge in COVID-19 cases; increases prices of nose masks Photocredit: News Ghana
Source: UGC

In microeconomics, supply and demand is an economic model of price determination in a market.

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As such one of the principles of economics is that when demand increases it results in prices being increased until demand equals supply once again.

This situation has forced traders to increase the prices of the protective gear for monetary gains considering the fact that the demand has gone up.

A report filed by the Ghana News Agency noted that a tour of some major markets in the Tema Metropolis revealed that despite the increase in prices of the mask, people are still purchasing them because they want to stay protected.

Some traders confirmed that people started rushing in for the nose mask when news came that even children are contracting the Coronavirus.

“People started rushing to her shop to purchase the mask in large quantities when they heard that both adults and children are contracting the virus,” Maame Sika, a shop owner said.

Maame Sika said people are no more buying in singles but rather in packs.

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According to her, the prices range between GHC50.00 and GHC55.00 for the children's nose mask and GHC30.00 and GHC40.00 for the adult ones

They said although business was good and they were making money, they wished the virus will subside and finally vanish from the country.

Meanwhile, COVID-19 has killed 12 more people in Ghana, pushing the country’s fatality tally to 494.

A total of 554 new COVID-19 cases were also recorded, shooting up the active cases to 6,948.

The statistics also revealed that currently, there are 113 people with severe conditions with 29 people in critical condition.

The recent upsurge in the COVID-19 cases in Ghana has been largely blamed for the lack of adherence to the COVID-19 safety protocols.

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Source: Yen Ghana

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