As Cordato states North Carolina's Anti-Gouging Law in 1996: (General Statutes 75-36) (a) It shall be a violation of G.S. 75-1.1 for any person to sell or rent or offer to sell or rent at retail during a state of disaster, in the area for which the state of disaster has been declared, any merchandise or services which are consumed or used as a direct result of an emergency or which are consumed or used to preserve, protect, or sustain life, health, safety, or comfort of persons or their property with the knowledge and intent to charge a price that is unreasonably excessive under the circumstances (Cordato, 2006). Hurricane "Fran" crushed into the North Carolina coastline at Cape Fear at around 8:30 pm, 5 September 1996. It was a class 3,…
Price-gouging that occurs after an emergency, such as hurricane Harvey, has its obvious ethical dilemmas, but free market economists argue that it prevents scarcity. Laissez-faire economists believe that when quantity demanded increases the price must also rise because the higher price will become a necessary incentive for suppliers. They claim that when there is a scarcity, the distribution of goods and services are best done in a free market economy. The pricing system that is vital to the economy gets destroyed when the government intervenes. Price-gouging is currently illegal in 34 states because it is viewed as taking advantage of the disadvantaged.…
Based on my computations, I would say that in today’s minimum wage in California, $9 per hour might be enough for single person without any dependents and living in a less desirable area of town, but not sufficient for a family with two young dependents nor for a family with one full-time or one part-time worker with dependents. There were certain discrepancies between the two portions of the family’s monthly budget, and in order for me to acquire at least the average monthly budget of $3,120 (before taxes), I had to cutback the expenses on the family’s entertainment. On my part I calculation, my monthly income came out $3,230 compared to standard California monthly budget, $3,120, which is just a $110 difference. However, unfavorably, that…
“Battle lines drawn over soda tax” In the article by, Associated Press, “Battle lines are drawn over soda tax,” they discussed the positives and negatives of the bill. The article states that the San Francisco Bay Area is considering a tax on sugary drinks. These drinks contribute to health problems such as “ diabetes, obesity, and tooth decay.” The tax would cause these drinks to have a penny-per-ounce extra cost, opponents believe that it would cause higher prices in supermarkets. Although the preposition side states that the cost would go to the manufacturer's who make these sugary drinks.…
As people are they wanted the newer better vehicle on the market so, “By 1927 replacement demand for new cars was exceeding demand from first-time owners and multiple-car purchasers combined. Given the incomes of the day, automakers could no longer count on an expanding market. Installment sales had been initiated by the makers of moderately priced cars in 1916 to compete with the Model T, and by 1925 about three-quarters of all new cars were bought “on time” through credit.” Before 1921 the roads between towns and cities were dirt, so when any weather hit the roads would be awful. In 1921 “The legislature passed the historic Highway Act, which included a one-cent-per-gallon tax on gasoline to help finance hard-surface, all-weather highways.…
Gas prices in the United States are one of the most important things that affect how we as a people live. From daily transportation, all the way to peoples careers and vacations, the price of gas has been instrumentally important to American life, especially in the last 65 years or so. At first, prices were low and everyone used as much gas as needed. Steadily, prices increased and sometimes got so high people were unable to get as much as they needed to due to how expensive it was to obtain. Although there are alternatives to gasoline, it is and will remain to be the primary fuel our society uses for quite some time because of its ease of access and convenience as compared to the alternatives forms of energy.…
They say that the reason for lower gas prices in the United State isn’t because of cheaper ways to refine oil, but because of Fracking for shale. Where finally starting to make enough oil to where we could be independent from foreign for the first time in oil history. Natural gas could be the way to go because in the last five years the price for natural gas almost 80% and in other parts of the world its 620% cheaper. If we don’t buy foreign oil then we wont be funding terrorist organizations that have control over the oil fields that we buy from. We have no other choice but to buy from they because were so dependent on foreign oil right now but fracking is the savior to America.…
Before Texas experienced its historical and great Oil Boom in 1901, Texas was deserted with only minor businesses in small towns and great acres of farm land. After the great Oil Boom first hit in Beaumont, the Texas landscape and the small towns in Texas changed dramatically. The oil industry grew rapidly and effected Texas and the people living in small towns economically, environmentally, and personally. Oil became the new “black gold” everyone wanted to get their hands on, but had its own price to pay no one expected. Before the great Oil Boom small towns such as Beaumont, were greatly affected by the rapid oil production.…
Try to imagine driving home after school or work and seeing car after car stopped in the right lane. It’s not rush hour why is this happening? It’s happening because of the suspicion that all areas surrounding Houston will be completely out of gas. The only explanation for this hysteria is that some reporters have broadcasted that some refineries will stopped production until the destruction of hurricane Harvey passes. People in North Dallas took this as an opportunity to lose every sense of rationality they had and make a B line to any near by gas station, too bad those gas stations already had plastic bags covering every pump.…
The urge for consumer laws crept in after the evolution of technology consumers were not aware of the new technological developments .For example if a consumer buys a microwave the consumer is not aware of the internal working of the microwave so in order to protect the consumer from exploitation consumer laws were introduced .In the same way the concept changed from buyer beware to seller beware this was the main reason for the evolution of consumer laws in united states of America. In United Kingdom consumer laws emerged after the second world war when industrialization increased the people started a consumer movement . United States is a federal Nation so in order to protect the consumers and to have a centralized law an agency is…
Laurie Coburn was a reliable person to interview because she worked for nonprofit Raising the minimum wage will reduce the help of government for social programs because higher wages cut the need for assistance for services like food stamps. Millions of Americans rely on the government for basic needs. These needs include child care, health care, food services, etc. Most of the people who rely on the government already work full jobs and still struggle to get by. The government has to spend money to help these people when they could be spending their money on education or on poverty.…
The Dangers of Soda Taxation and its Impact on Society According to the CDC, obesity, and cardiovascular diseases related to the condition, is the leading cause of death for Americans. Public health officials have tried, and largely failed, to combat this epidemic. These efforts have for the most part included campaigns to increase the awareness of the importance of healthy living with wholesome diet and exercise. Further, the government has instituted subsidies to assist with the crisis.…
Also the graph shows that buying in the last minute is costly more than when it was set up because prices are higher on average just as flights open and just before they close, this price discrimination allows airlines to sell more expensive seats to those who can’t wait, and cheaper tickets to those who can.…
Since the foundation of the United States in the eighteenth century, Americans have always been rather capitalistic. Whether the business is a small, family-owned store on the corner or a large corporation that has millions of dollars to spend, all businesses of any kind compete with one another. Competition for success in business has never been greater. In recent years, large corporations have become a serious issue due to their extreme greed. This has hurt small businesses across the country, and now, the quantity of small businesses is on the decline.…
The argument between diesels and gas has gone on for years. Diesel, which is being used in almost every industry from agricultural to moving goods down highways and railroads. Diesel tends to get better gas mileage and has better output for horsepower and torque. While, gets slightly lower gas mileage but the retail cost of gas is cheaper. Critics of diesel claim that diesel should not be used, because in early diesel engines emitted large amounts of nitrogen oxide.…