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What is price gouging?
The act of raising the prices due to increased demand and/or low inventory of a product, service, etc.
Price gouging-The stores in the CA gold rush would price gouge because they were the only in town and the miners needed the supplies.
price gouging - video
Price gouging - what is it?
Price gouging is a term for a seller pricing much higher than is considered reasonable or fair. In precise, legal usage, it is the name of a felony that applies in some of the United States only 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.
Take a $16 ticket, add $5.90 convenience charge, then add $2.20 for ordering online, and that's a 52% markup for a ticket to buy from ticketmaster.com
FIFTY PERCENT MARKUP, now THAT IS PRICE GOUGING!!!