• Chestnut@lemmy.world
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    7 months ago

    To be clear, price gouging is an example of supply and demand

    Keeping prices high is an example of price fixing, not supply and demand. It requires companies colluding with each other because, otherwise, one company would just lower their prices to get more business and make more money

    • Gabe Bell@lemmy.worldOP
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      7 months ago

      Raising your prices by a reasonable amount to meet extra costs is supply and demand.

      Raising your prices by three, four, five or six times a reasonable amount is gouging and is not supply and demand. It’s gouging and fucking over your customers, especially those who need your products.