price gouging

price gouging definition - business

price gouging

Taking advantage of a lack of competition and selling at an especially high price. For example, auto dealers are known to engage in price gouging when a much-sought-after model is in short supply.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.