2024 – Week 1 DISCUSSION Forum Note The video has Closed Captioning To activate it start the

Note: The video has 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:

1) Read “Florida Lawsuits Allege Price Gouging,” and “They Clapped: Can Price-Gouging Laws Prohibit Scarcity?“

2) Read the article from chapter 4 in your textbook: “In the News: Price Increases after Disasters” (pages 84-85) – (Week 1).  Also read the article The Problem with Price Gouging Laws.

3) Watch the Price Gouging video above and the second price gouging video (Video 8) under the YouTube link under the Week 1 menu. (Video 9 is about price ceilings in the apartment rental market, you may wish to watch this for additional background on price ceiling impacts.)

4) 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 and Supply and Demand Graphs.pptx ).

 

5) What is your conclusion? Is price gouging a good thing or not? Or is it just necessary? Explain why.

6) 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.

7) 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) and be sure to provide references (APA.ppt), including URLs where appropriate, to all works that you cite.

 

Now click on “Week 1 DISCUSSION Forum” text 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.

PEER RESPONSES

 

Amy LoCasto