- Joined
- Dec 9, 2005
price gouging
n : pricing above the market when no alternative retailer is available
Source: WordNet ® 2.0, © 2003 Princeton University
http://en.wikipedia.org/wiki/Price_gouging
http://en.wikipedia.org/wiki/Supply_and_demand
When vendors raise prices on rare goods, it is based on the laws of supply and demand, NOT price gouging. Vendors have the freedom of raising prices in a free market economy. Consumers also have the freedom of choosing between competitors in a free market economy.
So don't be surprised at high prices, and exercise your right to choose.
n : pricing above the market when no alternative retailer is available
Source: WordNet ® 2.0, © 2003 Princeton University
http://en.wikipedia.org/wiki/Price_gouging
http://en.wikipedia.org/wiki/Supply_and_demand
When vendors raise prices on rare goods, it is based on the laws of supply and demand, NOT price gouging. Vendors have the freedom of raising prices in a free market economy. Consumers also have the freedom of choosing between competitors in a free market economy.
So don't be surprised at high prices, and exercise your right to choose.