Price gouging has been done many time before in natural disasters, for the purpose of their business earning more money. In situations such as an emergency, businesses should raise prices on their supplies with a reasonable price, but not excessively. The government should step on price gouging when businesses raise their prices too high, the government should make a law about this. When price gouging is done in a natural disaster, I think it affects the consumers and the businesses.
When natural disasters, such as hurricanes and fires occur, retailers see this as an open opportunity to price gouge. In a time of emergency, consumers are left with necessities such as water, food, shelter, and gas. Businesses have the choice to raise their prices or not. If businesses choose to price gouge, they should raise their prices at a reasonable price. If the consumer wants it, they should be able to pay the price. Price gouging is not okay when the prices of supply are excessively high, for example during hurricane Harvey retailers were raising the price of a case of water, up to $ 99 and fuel was raised up to $ 10 dollars a gallon. When retailers raise prices this high, the government should step in. …show more content…
In cases like the one Texas were retailers would triple their prices in gas, water, and hotels, the government should step in.It's understandable to raise the prices of supplies, because businesses are always looking for a way to make money, but they shouldn’t abuse that power. at the beginning, they could be making a large amount of money, but if they abuse that power, of rising prices excessively, it could have long-term effects on their business.For example, the customers might not buy their
When natural disasters, such as hurricanes and fires occur, retailers see this as an open opportunity to price gouge. In a time of emergency, consumers are left with necessities such as water, food, shelter, and gas. Businesses have the choice to raise their prices or not. If businesses choose to price gouge, they should raise their prices at a reasonable price. If the consumer wants it, they should be able to pay the price. Price gouging is not okay when the prices of supply are excessively high, for example during hurricane Harvey retailers were raising the price of a case of water, up to $ 99 and fuel was raised up to $ 10 dollars a gallon. When retailers raise prices this high, the government should step in. …show more content…
In cases like the one Texas were retailers would triple their prices in gas, water, and hotels, the government should step in.It's understandable to raise the prices of supplies, because businesses are always looking for a way to make money, but they shouldn’t abuse that power. at the beginning, they could be making a large amount of money, but if they abuse that power, of rising prices excessively, it could have long-term effects on their business.For example, the customers might not buy their