AM/PM store in Dayton Ohio caught price gouging after the tornados, they're already backpedaling.
JEWS ARE AT IT AGAIN
Lucas Gomez
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James Flores
>price gouging
You mean preventing people from buying out all the supplies by selfishly stockpiling an unnecessary amount for themselves.
Supply and demand, motherfucker.
I suppose you think its price gouging when airlines jack their prices in the summer when families are going on holiday with their children?
Xavier Adams
Price gouging is a term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent. Usually this event occurs after a demand or supply shock: common examples include price increases of basic necessities after hurricanes or other natural disasters. In precise, legal usage, it is the name of a crime that applies in some jurisdictions of the United States during civil emergencies. In less precise usage, it can refer either to prices obtained by practices inconsistent with a competitive free market, or to windfall profits.
>In the former Soviet Union, it was simply included under the single definition of speculation.
I see you Commie
Jace Taylor
Elijah Bell
more than 50% would be gouge?
John Howard
>when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent
Caleb Mitchell
No, you do that by preventing people from buying out all the supplies by selfishly stockpiling an unnecessary amount for themselves. This is price gouging.
Jayden Ramirez
>Price gouging is a term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent
Wow, good job copy and pasting from Wikipedia. I can do it too, from the same page you regurgitated that from.
en.wikipedia.org
>The term is not in widespread use in mainstream economic theory
>In a survey of leading economists, only 8 percent agreed with a proposal to prohibit "unconsciously excessive" price gouging during natural disasters. 51 percent disagreed with the proposal, 15 percent were uncertain and 8 percent had no opinion. The economists opposing the proposal argued that such legislation would lead to a misallocation of resources and lead to lower supply and greater scarcity of the resources, which would harm those who truly in need of the resources.
>Economists Thomas Sowell and Walter E. Williams, among others, argue against laws that interfere with large or exorbitant price changes. According to this view, high prices can be viewed as information for use in determining the best allocation of scarce resources for which there are multiple uses.
Who is to judge if a price is reasonable or fair, is it you? Let's say the shop does not increase the price of bottled water after a natural disaster, when deliveries are uncertain. Let's say 1 person comes along and buys it all for himself, knowing that it might be the last bottled water in the area for some time.
To all the people that come after him, is it reasonable or fair that they don't have the choice of buying bottled water, albeit at a higher price?
If it wasn't beneficial for anyone to enter into a transaction with the shop for bottled water, they wouldn't do it.
Read some basic economics, nigger. If you support any form of price control, you are opposed to capitalism. If you support price controls, YOU are the commie.
Jaxon King
>No, you do that by preventing people from buying out all the supplies by selfishly stockpiling an unnecessary amount for themselves.
And you do that by raising the price, encouraging people to only buy the amount that they need. Otherwise a determined stockpiler will bypass a "limit per customer" by getting friends or family to buy on their behalf, or by offering bribes to the merchant.
Price controls lead to shortages.
Jacob Perry
BUT MUH FEE FEES
t. retarded leftists