Definitions for price gouging
price goug·ing

Princeton's WordNetRate this definition:1.0 / 1 vote

1. price gougingnoun

   pricing above the market price when no alternative retailer is available

WiktionaryRate this definition:0.0 / 0 votes

1. price gougingnoun

   The act of or an instance of charging services or pricing goods at unreasonably high prices.

ChatGPTRate this definition:0.0 / 0 votes

1. price gouging

   Price gouging refers to the practice of significantly and excessively raising the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair. This usually occurs after a demand or supply shock in situations such as crises or disasters. It's often considered exploitative, unethical, and in many jurisdictions, illegal.

WikidataRate this definition:5.0 / 1 vote

1. Price gouging

   Price gouging is a pejorative term referring to a situation in which a seller prices goods or commodities much higher than is considered reasonable or fair. This rapid increase in prices occurs after a demand or supply shock: examples include price increases after hurricanes or other natural disasters. In precise, legal usage, it is the name of a crime that applies in some of the United States 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. In the Soviet Union, it was simply included under the single definition of speculation. The term is similar to profiteering but can be distinguished by being short-term and localized, and by a restriction to essentials such as food, clothing, shelter, medicine and equipment needed to preserve life, limb and property. In jurisdictions where there is no such crime, the term may still be used to pressure firms to refrain from such behavior. The term is not in widespread use in mainstream economic theory, but is sometimes used to refer to practices of a coercive monopoly which raises prices above the market rate that would otherwise prevail in a competitive environment. Alternatively, it may refer to suppliers' benefiting to excess from a short-term change in the demand curve.

Matched Categories

1. • Pricing

How to pronounce price gouging?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say price gouging in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of price gouging in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of price gouging in Pythagorean Numerology is: 5

Examples of price gouging in a Sentence

1. Deputy Attorney General Jim Davis:

   We had a team go out immediately and we found out there was some truth to the claim that there was price gouging going on at the hotel.

2. Connecticut Gov. Ned Lamont:

   As more than 4,000 people in the state have been encouraged to self-quarantine, a Queens man who drives for taxi or ride-hailing services tested positive after showing up to a St. Johns Episcopal Hospital, which prompted 40 doctors and nurses to self-quarantine, meaning the staff will have to be replaced in the meantime, ABC 14 reports. MAJOR UNIVERSITIES CLOSE CLASSROOMS AMID CORONAVIRUS OUTBREAK Cuomo complained, however, that many New Yorkers are not following the self-quarantine requirements, but hesays thestate of emergency declaration will free up $ 30 millionused for testing and the purchase of protective gear for healthcare workers. The governor warned storescould lose their licenses for price gouging items like hand sanitizer, one he said was selling it for $ 80 per bottle. Cuomo, who earlier described the virus as like a flu on steroids, also emphasized that more people are dying from the fluthan dying from coronavirus. In this March 3, 2020, file photo, Metropolitan Transportation Authority worker sanitizes surfaces at the Coney Island Yard, in the Brooklyn borough of New York. ( AP) Metropolitan Transportation Authority worker referenced a New Rochelle lawyer, who commuted to work in Midtown via Metro-North before Metropolitan Transportation Authority worker fell ill and became the states second case earlier in the week. Since then, the mans wife and two of his children, a 14-year-old daughterand 20-year-old son, have tested positive, as did a neighbor who drove him to the hospital. CLICK HERE FOR COMPLETE CORONAVIRUS COVERAGE The patient is believed to have contracted the virus in Westchester County and not through travel. Multiple members of The Young Israel of New Rochelle synagogue, where the man worships, have also tested positive. CORONAVIRUS CONFIRMED CASES AND FATALITIES, STATE BY STATE Cuomo said the state is reconsidering how to address the quarantine period for people in Westchester County who are quarantined after coming in contact with people who have tested positive, to apply to their last contact with other people. The quarantine period is typically 14 days after last contact. WHAT STATES HAVE DECLARED CORONAVIRUS EMERGENCIES ? Connecticut Gov. Ned Lamont announced a second New York state resident who works in the state testing positive for the virus. This most recent case of another New York resident who works in Connecticut testing positive for COVID-19 shows us what we already know coronavirus is here and viruses dont stop at state borders.

3. Elizabeth Warren:

   This isn’t about inflation. This is about price gouging for these guys. So I get it. When we see prices go up we’re all concerned and the Republicans want to come in and just try to hammer on one theme about this economy but we got to pay attention to the fact that folks like the oil companies say I think it’s just another opportunity to make profits and we need to call them out on that.

4. Letitia James:

   Soaring gas prices are forcing working New Yorkers and low-income families to make difficult decisions on whether to pay bills or put food on the table. Price gouging is unfair and illegal and my office is determined to make sure it doesn't happen in our state.

5. Robert Weissman:

   This agreement falls short of what Americans want and deserve to stop Big Pharma price gouging, but it is a positive step forward nonetheless.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=price gouging
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Price_Gouging
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=price gouging