The Impact Of The Nashville Floods

1141 Words 5 Pages
When disaster strikes, many areas, places , and businesses are impacted and consequently many consumers and sellers feel the effects. A market in which I examined was with the Nashville Floods. I chose this natural disaster because it impacted me quite tremendously. During the incident in the area in which I lived was highly impacted and affected by the flood waters and massive amounts of damage. A service that was highly affected during and after this natural disaster was gasoline. I totally could see the impact as a result of this disaster of this resource. Likewise, it was evident that gasoline after the Nashville floods proved to be a concern and a market in which highly impacted the consumers. Furthermore, either consumers were …show more content…
In addition, consumers were victims of price gouging as sellers were increasing the prices because they knew consumer’s demands were at an all time high. Many vehicles were despondent due to being placed underwater or out of gas due to the floods. Furthermore, gasoline was so scarce that city buses were not even running due to the gas scarcity. Many individuals relied on the city buses to get them where they needed to go, but they were not fully functional because of either lack of gas, increase in gas prices, or many areas were still covered by water. Furthermore, many consumers utilized the city buses daily to get to and from one location to another, but this was highly prevented due to the water covering the city and a lack of the product needed to supply the buses with what they needed to …show more content…
Many sellers knew that this commodity was essentially needed for consumers to get to work, to various stores and for other errands that had to be completed that they felt the need to price gouge.

I chose to look at the supply aspect of gasoline after the Nashville Flood natural disaster and how the supply was affected. Supply was affected due to the lack of the product suppliers were willing to

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