Why Is Price Gouging Wrong
Price gouging is the practice of rising the price of goods, services, or commodities, to unreasonable or unfair level. This usually occurs when a state or country is in a state of emergency. Many citizens when talking about price they automatically think it is bad and are against it, which is not the case in my opinion. In many states it is illegal to price gouge and is considered unfair by many. My belief is that price gouging should be legal for many reasons. In the next paragraphs I will explain to you why I think this.
Rising the price when demand is low is necessary in order to keep items in stock and on the shelves. Without rising prices many consumers would be in need of crucial supplies such as water, food, and generators. Although many think it is wrong, it is actually only helping others. It may cost more, but at least there will be supplies left. When price gouging is absent during natural disasters, many people are left without any supplies and are waiting in line for hours. Price gouging also effects the economy. One thing it does for the economy is it attracts more resources from outside of the disaster area, where prices are lower. Which allows smaller businesses to receive more customers and earn a bigger profit. Also, the local businesses will not be in a demand and will be able to make everyone happy. …show more content…
If you live in an area where natural disasters occur yearly, then be ready. Have supplies such as water, canned food, and a generator. If you have all the supplies you need, then you won't need to go into town and try to get supplies. One researcher found that people who are prepared agree with the rising of prices and ae not bothered by it at all. But, for the people who weren't, they were complaining and completely disagreed. So be
Rising the price when demand is low is necessary in order to keep items in stock and on the shelves. Without rising prices many consumers would be in need of crucial supplies such as water, food, and generators. Although many think it is wrong, it is actually only helping others. It may cost more, but at least there will be supplies left. When price gouging is absent during natural disasters, many people are left without any supplies and are waiting in line for hours. Price gouging also effects the economy. One thing it does for the economy is it attracts more resources from outside of the disaster area, where prices are lower. Which allows smaller businesses to receive more customers and earn a bigger profit. Also, the local businesses will not be in a demand and will be able to make everyone happy. …show more content…
If you live in an area where natural disasters occur yearly, then be ready. Have supplies such as water, canned food, and a generator. If you have all the supplies you need, then you won't need to go into town and try to get supplies. One researcher found that people who are prepared agree with the rising of prices and ae not bothered by it at all. But, for the people who weren't, they were complaining and completely disagreed. So be