Feedback
Price gouging
Meaning
Verb
●
present participle
and
gerund
of price gouge
Noun
●
In Business, Economics & Economics:
The
act
of or an
instance
of
charging
services or
pricing
goods
at
unreasonably
high
prices
. How to
define
what is
reasonable
relies
on
principles
of
market forces
(
what the
market will
bear
), but the
gouging
concept
recognizes
egregious
exceptions
as being
exploitative
, with a
polar
example
being the
needless
exploitation
of
people's
basic needs
(such as food,
potable
water, and
medicines
) during a natural disaster.
Sourced from
Wiktionary
Join 10 million students and professionals writing 70% faster at QuillBot.com
Start writing better