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Price Gouging? #13536905 04/28/20 01:07 AM
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donothin Offline OP
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We are a free market or free enterprise system so price is a function of supply and demand for the most part. So let's assume you produce something where the margins are really thin, sometime making a profit other times not so much. Something happens, some kind of natural disaster and for a change the demand for your product significantly increases. For a time, you have an opportunity to make a nice but legitimate (whatever that is) profit by increasing the price of your product. Most would consider it gouging if you increased the price very much over what it was pre-disaster. Should you be able to increase the price to off set the times when you sold at a loss?

Thoughts?

Re: Price Gouging? [Re: donothin] #13536907 04/28/20 01:10 AM
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tech Offline
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no, taking advantage of someones misfortunes is not tolerated in my book


Trust your own instinct. Your mistakes might as well be your own, instead of someone elses.
Re: Price Gouging? [Re: donothin] #13536908 04/28/20 01:11 AM
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If it starts costing you more to manufacture/sell your product due to supply issues, raise your prices.

Re: Price Gouging? [Re: donothin] #13536912 04/28/20 01:13 AM
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Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways?

Re: Price Gouging? [Re: ReelBusy] #13536919 04/28/20 01:18 AM
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Originally Posted by Hancock
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways?


I'm not ok with cheap gas and oil. No Texan should be.

Re: Price Gouging? [Re: tech] #13536920 04/28/20 01:19 AM
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donothin Offline OP
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Originally Posted by tech
no, taking advantage of someones misfortunes is not tolerated in my book

How about the poor guy who was having to sell at less than cost of production because of oversupply?

Re: Price Gouging? [Re: donothin] #13536922 04/28/20 01:19 AM
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ko bass attack 27 Offline
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Supply and demand, you can only charge what the market will allow.

Re: Price Gouging? [Re: WAWI] #13536930 04/28/20 01:22 AM
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donothin Offline OP
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Originally Posted by WAWI
Originally Posted by Hancock
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways?


I'm not ok with cheap gas and oil. No Texan should be.


But should we put constraints on the price when supply is short.

Re: Price Gouging? [Re: ko bass attack 27] #13536932 04/28/20 01:23 AM
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donothin Offline OP
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Originally Posted by ko bass attack 27
Supply and demand, you can only charge what the market will allow.


Works good when you have large representation on the production side, but what about when production is controlled by very few and they secretly discuss what prices should be?

Re: Price Gouging? [Re: donothin] #13536934 04/28/20 01:24 AM
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I prefer to trade crankbaits.

Re: Price Gouging? [Re: donothin] #13536937 04/28/20 01:25 AM
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Originally Posted by donothin
Originally Posted by tech
no, taking advantage of someones misfortunes is not tolerated in my book

How about the poor guy who was having to sell at less than cost of production because of oversupply?



That guy isn’t much of a business man he needs to rethink his plan

Re: Price Gouging? [Re: donothin] #13536947 04/28/20 01:32 AM
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Originally Posted by donothin
Originally Posted by WAWI
Originally Posted by Hancock
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways?


I'm not ok with cheap gas and oil. No Texan should be.


But should we put constraints on the price when supply is short.

We who on what?


Re: Price Gouging? [Re: donothin] #13536950 04/28/20 01:33 AM
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Let's act like children and ask the same question. Reason being a child may not understand the law of supply and demand. Ok, then let's ask the same question as adults. An adult would hopefully understand such a simple concept. Now let's say we have professionals that dedicated their lives and careers to study such events/things. Then let's throw in a whole new concept of a World Wide pandemic not known to modern human times (yes, they have happed in the past but not with today's modern technology of super fast access to information/misinformation). Then let's go on a fishing forum to ask these questions and expecting an actual correct answer? So to answer the question...Yes.


Jane says I've never been in love - no
She don't know what it is
She only knows if someone wants her
Re: Price Gouging? [Re: donothin] #13536957 04/28/20 01:37 AM
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ko bass attack 27 Offline
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Originally Posted by donothin
Originally Posted by ko bass attack 27
Supply and demand, you can only charge what the market will allow.


Works good when you have large representation on the production side, but what about when production is controlled by very few and they secretly discuss what prices should be?

You been looking at new Bass Boats ?

Re: Price Gouging? [Re: donothin] #13536959 04/28/20 01:38 AM
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Originally Posted by donothin
Originally Posted by WAWI
Originally Posted by Hancock
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways?


I'm not ok with cheap gas and oil. No Texan should be.


But should we put constraints on the price when supply is short.


I am sure you are talking about we, the government. No, keep the government out of it.


The problems we face today are there because the people who work for a living are now outnumbered by those that vote for a living.
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