quote:
Would that help stop people from panic buying and hoarding or would that not do anything and people would still pay regardless of the price? But then I understand how low income would be hurt and necessities would only be for the rich.

price gouging ensures people dont over buy. and its not price gouging. its supply and demand.

it is actualyl a good thing and a market force that ensures everyone can get some and certain people cant or wont buy it all.

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Posted by bayoubengals88

Member since Sep 2007

19075 posts

Posted on 9/1/21 at 3:00 pm to lsu777

quote:
lsu777

Your post demonstrates how emotional people can get about this topic. It's one of my favorite yearly topics on the OT Lounge because sooo many people show their arse.

I gave you your seventh upvote and there were nine downvotes. Should be 10:1 upvotes but people get dumb when it comes to "price gouging"

The best example I can give is how plentiful premium gas was on Friday.
People were spending 15 minutes pumping 7 gallons of regular. I bought premium for 80 cents more and I was gone in two minutes.

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Posted by TDFreak

Dodge Charger Aficionado

Member since Dec 2009

7425 posts

Posted on 9/1/21 at 3:17 pm to lsu777

quote:

price gouging ensures people dont over buy. and its not price gouging. its supply and demand.

it is actualyl a good thing and a market force that ensures everyone can get some and certain people cant or wont buy it all.

Moreover, suppliers will send more product to places where they can fetch a higher price, thereby flooding the region with products. Eventually the price will drop on account of oversupply will force prices down.

Suppliers have no incentive to try and bring extra stuff to our market when there is no incentive to do so. That’s the paradox how price freezes actually hurt those in need of basic supplies and exacerbate disasters.

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