1 definition by ihatescams
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!!!
FIFTY PERCENT MARKUP, now THAT IS PRICE GOUGING!!!
by ihatescams October 6, 2009