Price Control Policies

On Luxury Televisions in Bangladesh

Table of Contents
1. Introduction .............................................................................................................. 2 1.1 Purpose of the study .............................................................................................. 4 1.2 Objectives of the Study .......................................................................................... 4 1.3 The scope of the Study .......................................................................................... 4 2. Methodology ............................................................................................................ 5 2.1 Research Approach ............................................................................................... 5 2.2 Research Purpose ................................................................................................. 5 2.3 Research Type ..................................................................................................... 6 2.4 Data Collection ...................................................................................................... 6 2.5 Sample .................................................................................................................. 7 2.5.1 Sample Size .................................................................................................... 7 2.5.2 Sampling Technique ....................................................................................... 7 2.6 Limitation ............................................................................................................... 8 3. Background .............................................................................................................. 9 3.1 Price Control and its impact ................................................................................... 9 3.2 Different Kinds of television ................................................................................ 11 4. Current status of price control measures on the luxury television market .............. 15 4.1 5. Current pricing in the Luxury TV Market in Bangladesh ................................... 15

Findings and Recommendations ............................................................................ 19 5.1 Impact on economy .......................................................................................... 21

5.2 Effect on society .................................................................................................. 22 5.3 Recommendations ............................................................................................... 22 6. 7. Conclusions ........................................................................................................... 23 Reference .............................................................................................................. 24

1. Introduction
The first televisions were brought to Bangladesh in 1964 by Nippon electronics. To start with, East Pakistan, as Bangladesh was then known, had very poor

telecommunications. Between 1959 and 1963, the first 100 KW medium wave and short wave transmitters were installed in Dhaka in order to improve communication between the two wings of Pakistan separated from each other by over 1,200 miles. There were relaying stations in Chittagong, Sylhet, Rangpur, Rajshahi and Khulna. Nippon Electronics partnered with the government of Pakistan for the East Pakistan TV Project and set up a workshop and office in Tejgaon, Dhaka around 1963. The imports of the first television sets from Nippon Electronics Japan rolled into Bangladesh in 1964 almost 3 decades after it was introduced in Europe, USA and Russia. By the end of the 1960s, there was a satellite station operating from Chittagong along with two relay stations in Khulna and Rajshahi. By 1970, there were 35 hours of weekly telecasts, mostly in Bengali but the number of television sets remained very sparse and accessible to the upper class in Dhaka and few other metros. Following the liberation of Bangladesh war the number of televisions in homes increased as the general level of income rose. However, according to the bureau of statistics steepest the steepest hikes in the number of televisions in Bangladesh came in 1981, 1990 and 1999. The three phenomena which had contributed behind this increase were 1. The royal wedding of Charles, Prince of Wales, and Lady Diana Frances Spencer which took place on Wednesday, 29 July 1981 at St Paul's Cathedral, London the live telecast of which attracted an estimated TV audience of 750 million people around the world including Bangladesh. Many people from that decade attribute this occasion as the reason why they bought their first television. 2. Cable TV was introduced in 1990 and as result of which for the first time people had access to a wide range of international channels. 3. Private television ownership permitted in 1999.

The number of televisions in Bangladesh has increased from a few hundred in the 1970s to thousands in the 80s and 770,000 by 1999. The advancements of technology has brought in evolved the kinds of television available. Through the evolution from those big bulky CRTs of the past to the slim HD Televisions of the present the audience has progressed from the fuzzy pictures to 3 dimensional high definition viewing today.

Figure 1 Braun HF 1, Germany, 1959

Figure 2 Panasonic HDTV, 2010

Television which was a luxury in the 70s became a necessary feature for all homes by the 1990s. The 21st century brought with it many different kinds of high quality viewing experience with the higher price tag so that certain kinds of television became a luxury. Bangladesh being a developing nation with a majority of its populations living in poverty and very tight foreign currency reserves have pushed the government to discourage the imports of luxury items. As it is a free and open market the way through which the government has tried influence the demand is by raising prices through taxes and hence lower the demand.

1.1 Purpose of the study

This research aims to analyze the price control policies taken up by the government of Bangladesh to control the demand and supply of luxury televisions in the market and its impact in the economy and society.

1.2 Objectives of the Study

The overall objectives of this report are as follows: To study the extent of price control measures taken up by the government in the luxury television market. To investigate the implications of the price control measures on the economy of of Bangladesh. To examine the impact of the price control measures in social context

1.3 The scope of the Study

The study focuses on the current status of price control measures that effect the luxury television market in Bangladesh and its effect on prices and hence demand and supply of luxury televisions. The study analyses the effect of such measures in the broader context of economy and society. Given severe resource and time constraints, it was not possible to examine the many complex issues that would define the luxury television market. In particular, the study did not explore the effect of free-market pricing on the interaction of non luxury and luxury televisions or how this interaction would shift demand, prices, or revenues. It was also necessary to make the assumption that consumption patterns would not change in the absence of price controls. 4

2. Methodology
A research methodology defines what the activity of research is, how to proceed, how to measure progress, and what constitutes success. The following section highlights the alternative methods used to conduct this research at its various steps.
2.1 Research Approach

When conducting research there are two approaches to consider: Quantitative and Qualitative. Quantitative research includes large randomized samples, more application of statistical and numerical data and tools. Quantitative research is used to determine the relationship between one thing and another in a population where as qualitative research methods focus on providing a complete picture of the situation with the aim of increasing the understanding of social processes and interrelation.

Given the above two approaches this analysis falls mainly in to the category of Quantitative research as it aims to understand the relation between price control measures, its effect on prices, demand and supply of luxury television. In part this research is also qualitative as it attempts to understand the impact of such measures to the economy and society.

2.2 Research Purpose

According to Yin (1994) and zikmund (2000) research can be used for three purposes. These are exploratory, descriptive and causal. Exploratory research focuses on finding out what is happening; to seek new insights and to assess phenomenon in a new light (Saunders et al.2000) Descriptive research aims to describe the characteristics of a population or phenomenon. It seeks to determine the answers to who, what when, where and how questions (Zikmund, 2000) Whereas causal research aims to explain the relationship between variables. (Saunders et al.2000) 5

The research purpose in this study has been assessed as both causal and descriptive in nature as it seeks to find the effect of price control measures on the price, demand and supply of luxury televisions and how these measures are effecting the luxury television market and the economy and society of Bangladesh.
2.3 Research Type

A research can be classified from the viewpoints of objective, function, types of data, research place and from the viewpoint of nature.

From the view point of Objective: This is an applied research as it is set to establish and verify the relationship between several macroeconomic factors and their impact on the luxury television market.

From the viewpoint of research place: For making this research paper as accurate as possible here both desk research and Field research are used, but the proportion of desk research is higher because of the greater usage of secondary data.

2.4 Data Collection

As mentioned both secondary and primary data were used to conduct this research. Secondary data were obtained from the following sources:

Newspapers, periodicals and websites Publications of Trade organizations Publications of Government agencies. Publications of Industry analysts Publications of Financial analysts 6

Primary Data: Primary data were obtained through face-to-face and telephone interviews with experts and employees of different suppliers of luxury televisions using an open ended questionnaire.

2.5 Sample

As this research centers on the luxury television market hence the primary respondents or sample units for this research were the suppliers and resellers of luxury television.
2.5.1 Sample Size

The research was limited to 4 respondents out about 20 resellers and manufacturers.

2.5.2 Sampling Technique

As the time span for this research was very short convenience sampling technique was used to get the final sample of 5 companies which were: Transcom Electronics Samsung Konka Walton

2.6 Limitation

The findings and analysis of this report has its limitations which are as follows:

Sample Size: We took 5 suppliers of luxury television out of 15 that currently operate in Bangladesh. Including more suppliers of similar types would have yielded more accurate results.

Time and resource constraints: The time and resource constraints did not allow for in-depth information and survey on larger sample population.

Non Co-operation by the respondents: The time of surveying was in the afternoon which was a peak working hour for employees hence some of them were reluctant to cooperate as they were busy.

3. Background
3.1 Price Control and its impact

Price controls are governmental restrictions on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of staple foods and goods, to prevent price gouging during shortages, and to slow inflation, or, alternatively, to insure a minimum income for providers of certain goods. There are two primary forms of price control, a price ceiling, the maximum price that can be charged, and a price floor, the minimum price that can be charged.

Historically, price controls have often been imposed as part of a larger incomes policy package also employing wage controls and other regulatory elements. Although price controls are often used by governments, economists usually agree that price controls don't accomplish what they are intended to do and are generally to be avoided. A price ceiling is a government-imposed limit on the price charged for a product. Governments intend price ceilings to protect consumers from conditions that could make necessary commodities unattainable. It is also called an implicit tax on producers and an implicit subsidy to producers that causes a welfare loss identical to the loss from taxation. (Vanbard, 2004) A price floor is a government- or group-imposed limit on how low a price can be charged for a product. It is a tax on consumers and a subsidy for producers that transfers consumer surplus to producers. (Vanbard, 2004)
3.1.1 Price Control and taxation

As established in the previous section, Price controls are implicit forms of taxation Legislators have three needs in mind as they prepare tax laws- -the need to raise revenue, the need to be fair to taxpayers, and the need to influence taxpayers' behavior. 9

Below are three excise taxes that have affected the economy and consumers' behaviors. In trying to influence buyer behavior taxation acts same as price control techniques.

A sin tax is used to discourage the use of products and services that could pose a risk to someone's health, such as alcohol and cigarettes.

The gasoline excise tax is a user tax on gasoline purchases. People who use gasoline pay taxes on it. These revenues maintain and build roads and highways and regulate underground pollution related to gas storage. Urban area mass transportation is developed and maintained by gas tax revenue.

Luxury taxes are taxes on expensive, nonessential items, such as luxury cars. Revenue from luxury taxes is redistributed through government programs that benefit all citizens. The taxes on luxury television in Bangladesh attempts to discourage their imports to conserve foreign currency, raise government revenue and redistribute wealth.

3.1.2 Price control: The criticisms

One of the key reasons why it is important to keep inflation in check is that it inevitably leads to price controls--a cure that is often worse than the disease. Venezuela is only the latest in a long line of countries that have tried and failed to cure inflation with such methods. The primary criticism leveled against price controls is that by keeping prices artificially low, demand is increased to the point where supply cannot keep up, leading to shortages in the price-controlled product.

For example, Lactantius wrote that Diocletian "by various taxes he had made all things exceedingly expensive, attempted by a law to limit their prices. Then much blood [of merchants] was shed for trifles, men were afraid to offer anything for sale, and the scarcity became more excessive and grievous than ever. Until, in the end, the [price limit] law, after having proved

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destructive to many people, was from mere necessity abolished." (Lactantius, ca 300)

As with Diocletian's Edict on Maximum Prices, shortages lead to black markets where prices for the same good exceed those of an uncontrolled market. (Wessels, 2000) Furthermore, once controls are removed, prices will immediately increase, which can temporarily shock the economic system. price controls always break down after a short time because there are too many prices that, by their nature, cannot be controlled for any length of time. The prices of farm commodities will vary with the weather; those for energy and raw materials will necessarily move with international prices. We can't control the prices foreigners charge for things we import and it would be stupid for us to give foreigners a gift by artificially holding down the prices of things we export. This inevitably requires adjustments in prices for manufactured goods as the cost of inputs rise. Nevertheless, politicians have tried to control commodity prices even if it was ultimately futile. Long after the price controls imposed by Richard Nixon were largely scrapped, those on oil and natural gas were maintained. An increasingly complicated and convoluted system evolved to prevent Americans from paying the world price for energy that was at the root of many of our energy problems during the Carter administration. Not surprisingly, they vanished once Ronald Reagan finally decontrolled all energy prices, one of his first acts as president in January 1981. (Bartlett, 2010)

3.2 Different Kinds of television

The TV is an essential item in the living room of most homes. Besides their original purpose, which was to watch television, TVs have also become the medium for purchased and rented movies, commercial industrial displays and games. There are a few basic types of TVs: direct view TVs, rear projection TVs and high-definition (HD) TVs. Included in the last two are plasma and liquid crystal display (LCD) models. These different kinds of television differ from each other in the following areas: 11

Technology used Picture quality Viewing angle Contrast ratio and black level Projection abilities

Each of these has their own set of features. From tubes to plasma, there are more models on store shelves than covers of magazines. Before exploring analog versus digital, SDTV, HDTV, and EDTV, let us take a look at the types of televisions in todays consumer market.

3.2.1 Direct View (CRT) TVs

Direct view or CRT TVs are the old stand-by, tube-type sets we've all come to know and love. Because these sets use cathode-ray tubes to "paint" the image on the screen direct-view TVs have a bright, clear picture that can be viewed from any angle in the room. All science aside, CRTs come in all shapes and sizes up to about 40-inches. They feature a good picture from all angles, the best black level, and are significantly lower in price than other TVs. Despite their bulky and heavy build, tube televisions are long-lasting and acclaimed for retaining a good picture throughout its lifespan, which can be decades. These Tvs fall well within the purchasing capacity of the middle income groups of Bangladesh and are very economical and hence are not included in the scope of this study
3.2.2 Flat Panel

Flat panel TVs are all the rage now, with their slim profiles and large screen size. There are two types to choose from: plasma and LCD. While these TVs can't be beaten in terms of cool points, there are some things to consider. These units are pricier then their CRT counterparts and hence deemed as prestige goods in the Bangladeshi context and hence all TVs falling in to this category are the subject of this study.

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Plasma TVs
Plasma TVs are not TVs in the traditional sense. They are more like monitors and need an external TV tuner to display broadcast signals. Plasma TVs work by illuminating thousands of tiny fluorescent lights to create an image. Plasma displays are digital and have higher resolutions than CRTs. When shopping for plasma TVs, it's important to note that not all plasma displays can produce the full resolution of HDTV. Some Plasma TVs are considered EDTVs (enhanced-definition TVs), with a resolution of 852x480. On the higher end, there are full-blown high-definition plasma TVs capable of a dazzling 1,920x1,080 resolution.(Types of Television sets, 2010)

Liquid Crystal Display (LCD)

LCDS work like the screen on your laptop. LCD televisions are by far the most common type of television sold in 2009. LCD televisions have a wide range of sizes from 15 to 55 inches. With lower costs and a wide array of sizes, LCDs have replaced CRT televisions as the standard home television. LCD televisions do not have the same color and black level performance of plasma and CRT sets; however, their low power consumption, cost and glare-free visibility have given them an edge over the other sets. Like plasma televisions, LCD televisions are generally only 4 to 5 inches thick. (Types of Television sets, 2010) The LCD technology has further evolved in to the following ways:
LED-backlit LCD display

An LED-backlit LCD display is a flat panel display that uses LED backlighting instead of the cold cathode (CCFL) backlighting used in most other LCDs. The use of LED backlighting allows for a thinner panel, lower power consumption, better heat dissipation, a brighter display, and better contrast levels.[1] LED backlit LCD TVs use the same TFT LCD technologies as CCFL backlit LCD TVs. Picture quality is primarily based on TFT LCD technology independent of backlight type. While not an LED display, 13

a television using this display is called an LED TV by some manufacturers and suppliers.

HDTV

HDTV is a marked step up from the picture quality of a standard digital television. Using cutting edge technology it presents images that are startlingly real, and also claims to be able to use a wider range of colours than its old counterparts. At present, even the most developed HD television can only show something like 25% of the colours that the human eye can see although Laser television could change that for those with the cash to spend on it. HD also has the advantage of being cheaper, and you can watch it from just about anywhere in the room without the need for annoying extras like glasses. A final plus point for HDTV is that there are hundreds of channels and dozens of broadcasters who are offering programs in HD, so you can pretty much watch anything you want in the highest of high definition. (Zwellig, 2010)

3D TV

3DTV is a revolution in the viewer experience, although it doesnt offer images that are genuinely 3D, it gives the appearance of 3 dimensions. At the moment there is an argument raging as to whether its a fad or whether its here to stay, and the mixed response of broadcasters hasnt offered any clear solutions: on the one hand you have Sky, which has offered a dedicated 3D channel, on the other hand you have well, just about everyone else. Thats not to say that there isnt material out there; some manufacturers are offering their own channels and there are loads of films available, you just have to look a little harder for it. (Zwellig, 2010)

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4. Current status of price control measures on the luxury television market

The luxury television market is a largely deregulated market and as such the government cannot intervene directly to control prices. Hence the government has attempted to control the price and hence demand and supply indirectly through higher taxation. Tax on televisions depends on the following things CBU- if it arrives completely made then highest tax rate is charged. SKD- semi knocked down- slightly lower tax (the panel and body arrives separately- this is the most common one practiced by brand TV sellers like Sony, Samsung, Philips. CKD- completely knocked down-no one has started bringing all parts separately and manufacturing LCDs yet- this has the lowest tax rate. Though Rangs is attempting to do this by 2014. The rate of taxation on the types of units and the changes in tax rates from 20092011 is as follows: Table 1. Tax rates on Plasma and LCD televisions from 2009-2011 (NBR, 2011) 2009 2010 2011
CBU SKD
5600 8000 9600 36000 56000

CKD
3500 5000 6000 22500 35000

CBU
8,000 12,000 15,000 50,000 80,000

SKD
6400 9600 12000 40000 64000

CKD
4000 6000 7500 25000 40000

CBU
10,000 15,000 20,000 75,000 100,00 0

SKD
8000 12000 16000 60000 80000

CKD
5000 7500 10000 37500 50000

18 - 21 inch 22 - 29 inch 30 - 42 inch 43- 52 inch 53 and above

7,000 10,000 12,000 45,000 70,000

4.1 Current pricing in the Luxury TV Market in Bangladesh

The current competing brands in the luxury TV market in Bangladesh are as follows Global Philips, Sony, Samsung, LG, Panasonic, Toshiba, Sharp Chinese TCL, Konka, Haier, Dawoo, Local Singer, Walton, My One, Mercel, Electra, Transtec, Rangs,

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Experts say that the market size for the year 2012 in approximately 22,000 units assuming a growth rate Est. 30% per Year The pricing of the different branded luxury televisions as of 31 Dec 2011 is as follows:

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Price of Chinese and local brands.

800000 700000 600000 500000 400000 300000 200000 100000 0 22 HD 26 HD 32 HD 32 FHD 40 LED 40 FHD 42 FHD 46 LED 46 LCD 47 LCD 40 3D 42 3D 46 3D 52 3D 55 3D 58 3D 59 3D 2010 2011

Figure: Graph of change in price of different sizes of LCD TV (Samsung) from 2010-11 17

Figure: Graph of change in price of different sizes of LCD TV (Konka) from 2010-11
800000 700000 600000 500000 400000 300000 200000 100000 0 22 HD 26 HD 32 HD 32 FHD 40 LED 40 FHD 42 FHD 46 LED 46 LCD 47 LCD 40 3D 42 3D 46 3D 52 3D 55 3D 58 3D 59 3D 2010 2011

Figure: Graph of change in price of different sizes of LCD TV (Transtec) from 2010-11
1800000 1600000 1400000 1200000 1000000 800000 600000 400000 200000 0 22 HD 26 HD 32 HD 32 FHD 40 LED 40 FHD 42 FHD 46 LED 46 LCD 47 LCD 40 3D 42 3D 46 3D 52 3D 55 3D 58 3D 59 3D 2011 2010

Demand for luxury televisions The demand for luxury televisions is said to be moderately elastic which is shown by a proportionate increase in sales when prices are dropped during sale and special occasions.

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5. Findings and Recommendations

As a result of this research the following results have come to light. The total tax have increased over the last 3 years. Tax rates on all kinds of units rose about 15% between 2009-2010 and 25% between 2010-2011 as illustrated below:
100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 CBU SKD CKD CBU SKD CKD CBU SKD CKD 2009 2010 2011

18 - 21 inch 22 - 29 inch 30 - 42 inch 43- 52 inch 53 and above

As a result of this change in tax an usual phenomenon should have been the consequent rise in prices as the study revealed prices of all sizes of LCD televisions fell in the last 3 years. The powerful brands have decreased prices by at least 10%. The highest decrease in prices were made to Sony Products which reduced prices by at least 12-18% on all its products. The Chinese brands followed suit by decreasing price by 20 to 25% Konka being one of the leaders in price reduction. The local brands reduced prices by 10-15% in the same period.

The Change in price levels among the Big Brands, Chinese and local Brands are illustrated below:

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100 80 60 40 20 0 Big Brands Chinese Brands Local Brands

2009 2010 2011

Even though Taxes have increased companies were forced to reduce prices for the following reasons: World recession: The recession that has hit the world since 2006 is still curtailing consumption as a result companies are forced to reduce prices to reduce inventory. Saturated Market: The Bangladeshi LCD market is saturated with many brands with low differentiation as a result Price wars between the companies are pushing down the margins and considering the current scenario this trend will continue. Loopholes in Customs regulations: Consumers are buying LCD-LED from Bangkok or Singapore at a very low price as no tax is charged and bringing them over as luggage. They are not getting any after sales service but they are happy with the bargain price they are getting. Local Brands: Local brands have certain advantages and tax benefits as a result of which they are attracting more buyers by charging lower prices. This has caused the Chinese and big brands to reduce prices to remain in competition.

Following the law of Demand: All other things remaining constant, if prices fall the quantity demanded will rise.

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Total sales (approx)

25000 20000 15000 10000 5000 0 2009 2010 2011 Total sales (approx)

So the imposition of taxes have failed to increase prices and hence curtail demand.

5.1 Impact on economy

The high taxation has made the business for big brands tough as result the market is flooded with cheaper and often lower quality brands. The determining of market prices through the dynamic interaction of supply and demand is the basic building block of economics. Consumer preferences for a product determine how much of it they will buy at any given price. Consumers will purchase more of a product as its price declines, all else being equal. Firms, in turn, decide how much they are willing to supply at different prices. In general, if consumers appear willing to pay higher prices for a product, then more manufacturers will try to produce the product, will increase their production capacity, and will conduct research to improve the product. Thus, higher expected prices lead to an increased supply of goods. This dynamic interaction produces an equilibrium market price; when buyers and sellers transact freely, the price that results causes the quantity demanded by consumers to exactly equal the supply produced by sellers. But when government adopts a price control, it denes the market price of a product and forces all, or a large percentage, of transactions to take place at that price instead 21

of the equilibrium price set through the interaction between supply and demand. Since supply and demand shift constantly in response to tastes and costs, but the government price will change only after a lengthy political process, the government price will effectively never be an equilibrium price. This means that the government price will be either too high or too low. When the price is too high, there is an

excessive amount of the product for sale compared to what people want. This will ultimately lead to increased inventory forcing companies to reduce prices which would stimulate sales. This is what has happened in the luxury television market in Bangladesh. The government had increased prices to increase their revenue and discourage imports. While in these objectives they have been successful the market has suffered because of price wars and unhealthy practices taken up by the companies. The customers who gamble by getting LCDs at a cheaper price from Bangkok or Singapore evade taxes by bringing them as luggage. This has a 3 fold effect The government suffers with loss of taxes. The local resellers lose in terms of lost sales. The customers suffer as they do not receive after sales service incase anything goes wrong with their TVs.
5.2 Effect on society

The implicit price control attempts of the government have not worked following the normal patterns in the LCD hence its effect on society remains minimal. The consumers are effected indirectly as they become victims of fraud and lower quality products as some companies have undertaken unethical practices i.e falsify country of origin, substandard parts amongst others, to survive in the stiff competition.
5.3 Recommendations

The following recommendations can be suggested to reduce the problems identified: Tighter legislation and more vigilant Airport customs authorities to prevent the legal smuggling of LCD televisions.

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Reduce pressure on multinational big brands as they ensure that the consumers are getting value for their money. Encourage efficiency and quality amongst local manufacturers to ensure that they compete not only in terms of price but in terms of quality as well. Tighter regulatory bodies to investigate and prevent unethical practices. Let the market forces decide the price and demand and supply factors.

6. Conclusions
The imposition of price controls on a well functioning, competitive market harms society by reducing the amount of trade in the economy and creating incentives to waste resources. Many researchers have found that price controls reduce entry and investment in the long run. The controls can also reduce quality, create black markets, and stimulate costly rationing.

The picture is illustrated in the Luxury Television market in Bangladesh which highlights that implicit price control measures of taxation do not work in markets with many competing suppliers. It only encourages price wars and aggressive competition which often lead to unethical practices.

If the government only focuses on its short run motivations of higher tax revenues it may be creating a black hole for the consumers of Bangladesh who miss out on high quality viewing experience and entertainment as well as become victims of fraud and fake products.

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7. Reference
1.Types of Television sets. (2010). Retrieved from ehow.com. 2. Bartlett, B. (2010, January 14). Venezuela inflation: Price controls opinions. Retrieved March 23, 2011, from www.forbes.com: http://www.forbes.com/2010/01/14/venezuela-inflation-price-controls-opinionscolumnists-bruce-bartlett.html 3. Lactantius, L. C. (ca 300). On the Deaths of the Persecutors. Calvin College: (Christian Classics Ethereal Library ed.). 4. NBR. (2011). Tax Rates on Electronics. Retrieved from National bureau of Revenue: www.nbr.gov.bd 5. Vanbard, M. J. (2004). Taxation by another name. Rio Hondo: Rio Hondo University . 6. 000 . Economics. In W. J. Wessels. Chicago Press.

7. Zwellig, J. (2010, April 30). HD vs. 3D. . Retrieved from http://www.tvtechnology.com/Default.aspx?tabid=204&EntryId=591 8. Galbraith, John K., A Theory of Price Control,. Cambridge, Mass.:Harvard University Press, 1952. 24

9. The Welfare Costs of Price Controls for Cars and Color Televisions in Poland: Contrasting Estimates of Rent-Seeking from Recent Experience, by David Tarr. World Bank Economic Review, Vol. 8, No. 3 (1994). 10. Morton, Fiona M . S c o t t , "The Problems of Price Control" . Regulations: (An Yale University publication) Spring 2011 edition Bangladesh Market Information was obtained from the following sources: 1. Naushad Al Rashid, Product Officer, Transcom Electronics, 2. Riaz ul Hasan, Sr. Marketing officer, Samsung 3. Iftekhar Ali, Brand Manager Konka 5. Jamshad S Kabir Marketing Officer, Walton

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