Sharp increases in the price of gasoline following September 11,2001,is an example of ________.
A) price fixing
B) price matching
C) price gouging
D) price segmentation

Question

Quizplus · Accepted Answer

Price gouging refers to the practice of suppliers increasing prices excessively during emergencies or times of high demand. The sharp increase in gasoline prices following September 11, 2001, can be seen as an example of price gouging, as suppliers capitalized on the increased demand for gasoline during a time of national crisis.

Sharp Increases in the Price of Gasoline Following September 11,2001,is