price gouging
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English[edit]
Verb[edit]
- present participle and gerund of price gouge
Noun[edit]
price gouging (usually uncountable, plural price gougings)
- (business, economics) The act of or an instance of charging services or pricing goods at unreasonably high prices.
- The farmers aren't really guilty of price gouging, but they are trying to recoup some of their losses from the flooding earlier this spring.
Usage notes[edit]
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.
Translations[edit]
act of or an instance of charging services or pricing goods at unreasonably high prices