price gouging
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English
Verb
- present participle and gerund of price gouge
Noun
price gouging (usually uncountable, plural price gougings)
- (business, economics) The act of or an instance of charging services or pricing goods at unreasonably high prices.
- The farmers aren't really guilty of price gouging, but they are trying to recoup some of their losses from the flooding earlier this spring.
Usage notes
How to define what is reasonable relies on principles of market forces (what the market will bear), but the gouging concept recognizes egregious exceptions as being exploitative, with a polar example being the needless exploitation of people's basic needs (such as food, potable water, and medicines) during a natural disaster.
Translations
act of or an instance of charging services or pricing goods at unreasonably high prices