What Is Price Gouging?
Anyone who knows about economics and the concept supply and demand knows that as demand goes up and supply struggles to keep up, prices can rise too. The more people want something, and the less of it there is, the more expensive that item becomes. This is something that a lot of people are experiencing as shortages of basic goods abound thanks to the panic caused by the COVID-19 (Corona) Virus.
As people struggle to get basic necessities, some people are taking advantage of the shortage to make a quick buck. For instance, the prices of hand sanitizer and facemasks shot up by roughly 500% on eBay...