Love is the guiding principle, when increasing profit you have to think of the poor people, if you are increasing profit for garri that will mean that a family out there wont enjoy, the bible cursed the people that templered their scales to increase profit

If ur profit makes live unbearably hard for others, if ypu have the spirit of love in you, you will know that its evil

Yes. Too much profit is a sin because you are making much profit at the detriment of others.

People like you will still complain. When Motorist inflate price unnecessarily or Fuel station decides to sell at black market price. There's profit and there's greed. A true believer will always give a good price, and think win win. Any price of goods that can bring resentment to most customers due to excess profit, you should know , it won't end well. Even in Monopoly Wisdom has to be applied. Ask Dangote.

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

Once you lie just to sell at that price, it becomes a sin. You can choose to sell it more than that 6k, no problem cos it's business. But lying to convince the buyer to buy at that price is a sin, for instance, saying that you bought it for 5k to make it seems that your gain is too small meanwhile you bought it for a very low price. Lying is a sin, it's better you keep quite and sell, it's left for the buyer to buy, rather than lie to sell.

tonididdy:


Isn't a 10 to 20% total cost of an item as profit, isn't it enough?

Must it be 100% or 50% profit.
Maybe biblically it isn't a sin but look around Nigeria brother, how many people can afford these prices of goods and services everywhere.

Truth is Nigerians are wicked beings.
Go overseas food, common man items are the cheapest.
The expensive things are called luxury items. We all know who those items are meant for.

you don't size people just becos of the way they look....you don't know what may happen leta.... You shouldnt reduce price becos you pity them.... If you pity someone then you can do a bit of charity... Never ever mix business with charity.. Occasionally you can give from the products freely..... But business is business....
From the way you talk... You will feel bad if you get rich... Becos according to you thats not right... You shouldnt be better than people.... You shouldnt exploit people to grow ur business but you shouldnt avoid large gains becos its "wrong".... There are christian millionaires you know...

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

I don't believe it's a sin.
Excess profit is allowed in business.

There is what we call risk management.
Your ability to manage your risk in business determines how far you will go in that particular business.
When you ventures into a particular business,you have to calculate the risk involved.
The risk involved is that which keeps you afloat in days of trouble.

You might make excess profit in the first trip.

The second trip becomes a disaster.

If you say your first trip which you made excess profit is a sin, then what will you say of the second trip which you lost all your money.

Excess profits are to be saved for the difficult days.
Every business must go through a difficult days, so the profits you made in the goods days will save you in the bad days.As long as you did not steal,lie or cheat to make those profits.

Business is buying and selling,
Seller has an asking price.
Buyer bargains.
They reach a common ground which becomes the selling price..

Have you not seen a situation where a customer comes and pays you even without bargaining.

thariodamaniac:

you don't size people just becos of the way they look....you don't know what may happen leta.... You shouldnt reduce price becos you pity them.... If you pity someone then you can do a bit of charity... Never ever mix business with charity.. Occasionally you can give from the products freely..... But business is business....
From the way you talk... You will feel bad if you get rich... Becos according to you thats not right... You shouldnt be better than people.... You shouldnt exploit people to grow ur business but you shouldnt avoid large gains becos its "wrong".... There are christian millionaires you know...

Oh my goodness, what did I just read

Chai someone like you will still come out to stone hushpuppy.

Nigerians....

Ogeneigbo1:



Have you not seen a situation where a customer comes and pays you even without bargaining.

It is this set of buyers that are the problem to the common man.
Imagine spending 50% of your earnings just to feed a month, totally unacceptable.

OpenYourEyes1:



It's not moral or right (which makes it a sin).
Lots of such traders usually sell things that way because the buyers probably aren't aware they are not that costly or have no choice. Beside, if everybody does thing that way, there will be unnecessary inflation of goods and services in the land.
It's never right for people to sell things expensive (due greedy) while others are selling thesame thing cheap

We can afford to buy alot of things today because people choose not to inflate prices, or are forced not to inflate due to healthy competitions.

I disagree. Maximum price markup can be possible due to scarcity of supply.

If you've predicted the future and acted accordingly then by all means profit as you see fit as long as you are not arm twisting the opponent.

Mtn sold us sim card for 40,000 Naira in this country. Production price wouldn't have been more than 1000 Naira.

Again, if you excessively markup your price, you run the risk of cutting off a significant market. A lost you are willing to take.

The cost of performing a surgery in America is 100 times more than what is obtained in Nigeria. Not because the cost is 100 times more.

You bought a piece of land in Abuja for 1million Naira, ten years later same land sells for 150million Naira.

This is the law of demand and supply. It's in a way nature's law of regulation

tonididdy:


Oh my goodness, what did I just read

Chai someone like you will still come out to stone hushpuppy.

Nigerians....

who is hushpuppy? If its one of those social media touts i dont want to hear.... News has it that he is a fraudster how does stealing from people and govt equate to running a business and people willingly paying for ur services and products...... Ur idea of money is the problem not too much profit.... If i provide value to people and they deem it worth it to pay me my due is it wrong?.... I can waiver the fees for some out of goodwill but not to downsize my business becos i pity them.... Doing good out of pity is not a good thing hope you know...?

No . Isaiah 48:17

helinues:
It doesn't have to be a sin, but morally and logically, that's wickedness and self centered

What's he saying

tonididdy:


It is this set of buyers that are the problem to the common man.
Imagine spending 50% of your earnings just to feed a month, totally unacceptable.

I understand you point, but we are not talking about what brings problem to the common man.

The question is about making profit and sin.

Look at people that do contract for another example.

The total and real cost of doing that contract might be 1000 naira.
You don't just go and put profit of 200 for example.
Assuming you supply and there is damages, the trust spoil on the road, possible returns.

All these are factored in when submitting your quotations.

Assuming you supply and every thing is ok .
Fine ,you rejoice is your luck ,your profit.

What happens if you supply and every thing is bad or the truck fell on the road and everything is gone...

Think about it from this angles.

The truth is that what we see as sin ,God might not even regard them, but those ones we think we are right on, God might be frowing on them.

God's ways and human ways are not the same

All my argument are based on as long as you did not lie,cheat or steal during the cause of the business.

sonofthunder:



Everything done in excess is sin. I wonder if we truly understand the meaning of sin but I have no desire to go into that. From multiple sexual partners, to eating to love for money anything done in excess (and to the conscious or unconscious detriment of those around us) is totally wrong. We do not often see the effect now until it gets back to destroy us. This is the basic reason we have failed societies in every corner of the world. But in line with your question, this doesn't mean you should labour for loss. You must determine how to measure a fair price by doing some simple things like determining how often do you sell your product, how long the product will last for a single use, is it a year or just a month amongst other factors. Most people don't have the patience to carry out this basic activity especially when operating a monopoly. They know their customers have limited choices.

Couldn't read any further after sighting @bolded

Your definition of sin tho
So for example if Mr A kills one person for the first time and Mr B is a serial killer (excess) who kills/has been killing anything then Mr B sins but A doesn't
Hmm

Petersamuel8:
My opinion though











IT IS GREED

And what is GREED?
SIN

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

Are you a believer?
Does the spirit of God live inside you?
Is your conscience/mind renewed by the Word of God?

If you answers are YES, you know the answer.


2. From the business perspective, will you like to sell large volume faster at a good profit or slow sell for large profit?

Think on this things. You have the mind of Christ.

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

Are you a believer?
Does the spirit of God live inside you?
Is your conscience/mind renewed by the Word of God?

If you answers are YES, you know the answer.


2. From the business perspective, will you like to sell large volume faster at a good profit or slow sell for large profit?

Think on this things. You have the mind of Christ.

Let your conscience be the judge...you are asking this question because you feel guilty...In the end, God is Justice and he speaks to us all via our Conscience

dingbang:
If God decides to inflate the price of Oxygen, I am sure his entire savings on earth will not afford a breath

Did any of this people ask God to create them.

1kinggy:


Are you a believer?
Does the spirit of God live inside you?
Is your conscience/mind renewed by the Word of God?

If you answers are YES, you know the answer.


2. From the business perspective, will you like to sell large volume faster at a good profit or slow sell for large profit?

Think on this things. You have the mind of Christ.

Sir, I have seen and witness someone who sells at a very high price and still records the highest patronage from customers.

Then I have also seen someone who sells at a very low price,sometimes even without profit just to push the business going, yet no customer.

It's all about the level of grace one operates on.

My aurgment is as long as you didn't cheat, lie ,or steal ,God will not judge you with your profit margins.

Go and read the parable of the talents and tell me if there is anything like too much profit.

bamvik:
I Am curious to know from bible scholars in the house. You see a situation where the wholesale price of an item is lets say #2100 * 100pieces =210,000. Transportation = 90,000, total =300k and the trader eventually selling it #6000naira which is =600k.

So is it a sin? Your answers with biblical reference

Whatever your conscience tells you at the point of transaction is what's right.

[quote author=Ogeneigbo1 post=90651796]

I don't believe it's a sin.
Excess profit is allowed in business.

There is what we call risk management.
Your ability to manage your risk in business determines how far you will go in that particular business.
When you ventures into a particular business,you have to calculate the risk involved.
The risk involved is that which keeps you afloat in days of trouble.

You might make excess profit in the first trip.

The second trip becomes a disaster.

If you say your first trip which you made excess profit is a sin, then what will you say of the second trip which you lost all your money.

Excess profits are to be saved for the difficult days.
Every business must go through a difficult days, so the profits you made in the goods days will save you in the bad days.As long as you did not steal,lie or cheat to make those profits.

Business is buying and selling,
Seller has an asking price.
Buyer bargains.
INFORMATIVE, GOOD RESPONSE

IMMUNO1:
Go and read the parable of the talents and tell me if there is anything like too much profit.

You are wonderful.
Respect

In this passage God even acknowledged the one that made too much profit while he rebuked the one that didn't make any profit.

GodPunishBiafra:


In Islam, any profit greater that 100% is a sin.

Does this mean any Muslim who sticks to the industry standard of multiplying the cost of services by 2 to 3 for profit in some developed countries is committing a sin?

GRIMMJOE:
Did any of this people ask God to create them.

if I expose the stupidity in your comment now, you'll say I am rude.

dingbang:
If God decides to inflate the price of Oxygen, I am sure his entire savings on earth will not afford a breath

You better behaved your sef.

Benjaniblinks:

You better behaved your sef.

excuse me?

Not in that context

eagleeye259:


Does this mean any Muslim who sticks to the industry standard of multiplying the cost of services by 2 to 3 for profit in some developed countries is committing a sin?

Yes

GodPunishBiafra:

Yes

Na wah. The multiplier value of 2 to 3 is what is approved by the regulatory body