What is allocation by need pricing goods based on what rather than need given or selling goods only to people who most need them giving our song groups to whoever will stand and lying to the longest price and good so that even the most vulnerable members of society can afford them
Allocation by need pricing is a pricing strategy where goods are priced based on the individual consumer's needs rather than the traditional supply-demand dynamics or market forces. This approach focuses on providing essential goods to those who require them the most, often targeting vulnerable or disadvantaged members of society. The concept involves setting prices low enough so that even those with limited financial means can afford the goods.
This pricing strategy aims to prioritize fairness and maximize accessibility to essential goods, ensuring that everyone has the ability to obtain them regardless of their financial standing. By pricing goods based on need, it aims to address income inequality and help disadvantaged individuals meet their basic requirements.
However, it is important to note that implementing such a pricing strategy in practice can be complex. It requires balancing the costs of production, sustainability of the business, and ensuring a fair distribution of goods among consumers.