Price Gouging
Raising the price of a product sharply when a crisis drives its demand up, which is illegal in many U.S. states and many countries.
Often confused with
- Collusion
- Collusion is an agreement between competitors; gouging is one seller raising prices during a crisis.
- Price Discrimination
- Gouging raises one price for everyone during an emergency; discrimination charges different customers different prices at the same time.
Taught in
See also
2.5.C.2