Please read the following articles which are attached:
“Many economists defend disaster profiteers. They are wrong”, The Economist (Finance & Economics), April 11, 2020
“Disaster profiteering – Price Gauging: a cautionary tale”, The Economist (Finance & Economics), October 22, 2020
In a market, price is the mechanism that brings a market to equilibrium. If there is an excess supply or an excess demand for a good, the market responds by changing price to eliminate the excess supply or demand.
Emergency situations often increase the demand for a good or service, resulting in an excess demand. The market response would be an increase in price. The larger is the excess demand, the larger would be the increase in price. This increase in price is sometimes viewed as “price gouging”.
Please have a discussion, keeping the following questions in mind:
What is price gouging? When does an “increase in price” become “price gouging”?
Can you distinguish between economic issues and ethical issues?
In a market, price is used to ration the good or service. Should price gouging be avoided? If so, how can it be avoided? If not, why should it not be avoided?
What are the ramifications of price gouging? That is, who is affected?
In the second article (above), who gains from the fines that the shop proprietors pay? What do you think becomes of the revenue accumulated from the fines? What should be done with this revenue?
Should the government step in to prevent increases in price? What guidelines should the government follow?
Please post your thoughts. [You do not need to address every consideration listed above. They are provided as something to discuss and a means to begin a discussion. Feel free to express other issues or thoughts on the matter.] For more information on Market Price check out : https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/economics-terms-and-concepts/marketing
Plagiarism Free Papers
Thehomeworkwritings.com’s team of writers write all papers from scratch. We deliver 100% original, unique papers. That’s what makes us the best custom homework writing service
We provide unlimited free revisions to all customers and on all papers. Try The Homework Writings today for the best custom homework writing service and experience in the industry.
Thehomeworkwritings.com gives clients title pages free of charge. Your only job is to fill out our order form. We will handle the rest.
As the leading essay writing service, we never submit any paper without a reference/bibliography page. We do this free of charge too.
Originality & Security
At Thehomeworkwritings.com, we take great pride in delivering only high-quality 100% original papers to all our clients. We also never share any of our clients’ information with third parties. Your data is safe with us.
24/7 Customer Support
No other custom homework writing service has a friendly, always available customer support team to respond to clients like us.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Why outsource our services
We have the best customer support team for your essay writing needs.
You won’t find any other custom homework writing service with pricing as flexible and affordable as ours.
Admission help & Client-Writer Contact
We provide a direct line of communication with our writers for the best writing experience.
As the leading custom homework writing service, we take deadlines very seriously. You will have your paper submitted on time without any delays.
We truly value your feedback, good or bad, and always use your feedback to help us provide you with an even better custom homework writing service