Question

Part A
Using an online dictionary, define the term "price gouging."

Answer 1

Price gouging occurs when sellers dramatically increase the prices of essential goods in response to greatly increased demand, such as occurs after a natural disaster.

Step-by-step explanation:

PLATO/Edmentum answer

Answer 2

Price gouging refers to when retailers and others take advantage of spikes in demand by charging exorbitant prices for necessities, often after a natural disaster or other state of emergency.