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A storm will hit a small town soon. Residents are advised to head out to
purchase water, canned food, and other emergency supplies. When residents
go to make their purchases, they notice that the supermarkets have greatly
raised the prices of certain items. Which price strategy is this?

Respuesta :

12294288

Answer:

Price Gouging!

Explanation:

Price gouging occurs when a seller increases the prices of goods, services or commodities to a level much higher than is considered reasonable or fair. Usually, this event occurs after a demand or supply shock. Common examples include price increases of basic necessities after natural disasters.

Parrain

When the supermarkets increased prices greatly at such a juncture, this is known as Price gouging.

Price gorging:

  • Refers to when prices are raised by retailers exorbitantly in response to sudden increase in demand
  • Usually happens during disasters and emergencies
  • Is usually illegal

The supermarkets is engaging in price gorging by increasing the prices so greatly due to the impending storm. Authorities can come against these supermarkets for this.

In conclusion, the supermarkets are engaging in price gorging.

Find out more at https://brainly.com/question/25364701.

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