Is price gouging a good thing or not?
Is price gouging a good thing or not?
May 13, 2020 Comments Off on Is price gouging a good thing or not? Uncategorized Assignment-helpNote: These videos have Closed Captioning. To activate it, start the video, mouse over the bottom of the video and click on the CC icon, then select from the menu.This week’s discussion topic is about Price Gouging. Price gouging occurs only under a narrow set of legally defined circumstances. Price gouging is a legal concept, not an economic concept.When a natural disaster occurs and the governor of the state declares a state of emergency then the price gouging law of that state will go into effect, but only if the state has such a law.The economic effect of price gouging laws is to put a Price Ceiling on all goods and services covered by the state’s price gouging law. Price ceilings always cause shortages.Assignment Summary:Read “Florida Lawsuits Allege Price Gouging,” and “They Clapped: Can Price-Gouging Laws Prohibit Scarcity?”Read the article from Chapter 4 in your textbook: “In the News: Price Increases after Disasters” (pages 80-81).Also read the article – The Problem with Price Gouging Laws The Problem with Price Gouging Laws – Alternative Formats .Watch the Price Gouging videos above.Summarize the main points of each article and decide which graph (A, B, C, or D) can be used to explain each event and why – be specific. More than one graph may apply. ( SupplyAndDemandGraphs2.doc Supply and Demand Guide – Alternative Formats and Supply and Demand Graphs.pptx Supply and Demand Powerpoints – Alternative Formats ) What is your conclusion? Is price gouging a good thing or not? Or is it just necessary? Explain why.Post your views to the discussion board and refer to at least two different concepts from this week’s Chapters. Your illustration of concepts MUST include an explanation why you think they are are relevant to the week’s topic using specific information from the articles, videos and other research that you have done.MAKE SURE THAT YOU ADD SOMETHING NEW to the discussion.Post on three different days for a minimum of three posts. Failure to meet these minimum posting requirements results in point loss.Include a word count on each post. All of your posts should sum to a minimum of 500 words.Each post submitted should be between 150 and 250 words. Keep them short, specific, and clear.Use paragraphs as appropriate.Very lengthy posts do not provide an incentive to be read.Remember to document all use of sources by using citations and references. These should be in APA format.Please review Plagiarism Powerpoints ( PLAGIARISM.ppt Plagiarism – Alternative Formats ) and be sure to provide references (APA.ppt), including URLs where appropriate, to all works that you cite.Now click on the “Week 1 DISCUSSION” title above to go to the discussion forum. You can start a new thread by clicking on the Create Thread button at the top. You can also respond to an existing post by clicking the Respond button at the bottom of the post.Week 1 Research Assignment ResearchApplying Supply and Demand: Real World ExamplesFor this assignment you will find a news article (not a blog, not Wikipedia, not an opinion article, a news article) that describes a change in supply, demand or both in a real world market. The learning objective is to understand how supply and demand impacts markets and prices.Begin by downloading and studying: Supply and Demand Graphs.pptx Supply and Demand Powerpoints – Alternative Formats SupplyAndDemandGraphs2.doc Supply and Demand Guide – Alternative Formats researchProjectRubric.pdf researchProjectRubric.pdf – Alternative FormatsAssignment HistoryFind a news article on the Internet that describes a shift in the supply curve or in the demand curve. The article must be recent (within the last six months), and MUST NOT be from an encyclopedia or reference website that discusses demand and supply. DO NOT use blogs. Use well established business web sites or industry specific web sites.The best articles are about changes in the price and/or sales of a particular product. You then have the opportunity to demonstrate your understanding of supply and demand shifts as you explain the changes in price and quantity experienced by the product you choose.RECOMMENDATION: READ THE SAMPLE PROJECT: Under the Getting Started link.Summarize the article. (Do not quote the article, but explain it as if you were telling someone about it. If you do use direct quotes or paraphrases, remember that citations and references are required.)Explain which graph in our collection – A, B, C, or D – illustrates the shift that you identify by describing the change in price and the change in equilibrium quantity (remember the difference between a change in quantity and a change in the position of the curve – these are described in the documents linked above).Some articles may describe a situation where both curves shift. This is not common but it is possible.Do use paragraphs in your post. And do remain focused on what is in the article.Provide a full URL link to the article along with an APA-formatted reference to the article at the bottom of your submission.Important: This is a Microeconomic course. Do not choose an article discussing Macroeconomic issues: Inflation, unemployment, trade deficit, government budget deficit, etc.