Price gouging is a term for a seller pricing much higher than is considered reasonable or fair. In precise, legal usage, it is the name of a felony that applies in some of the United States only 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.
Take a $16 ticket, add $5.90 convenience charge, then add $2.20 for ordering online, and that's a 52% markup for a ticket to buy from ticketmaster.com
FIFTY PERCENT MARKUP, now THAT IS PRICE GOUGING!!!
FIFTY PERCENT MARKUP, now THAT IS PRICE GOUGING!!!
by ihatescams October 6, 2009
The act of raising the prices due to increased demand and/or low inventory of a product, service, etc.
Price gouging-The stores in the CA gold rush would price gouge because they were the only in town and the miners needed the supplies.
by Happy facer boi March 5, 2022