Price Gouging Laws Are an Example of

question 149

Multiple Choice

Price gouging laws are an example of

• A) rules for keeping market prices low enough for buyers to afford the product.
• B) a price ceiling.
• C) rules to prevent a market shortage.
• D) rules to prevent black market pricing.
• E) prices to allow rationing to the highest bidder.

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Definitions:

Privity of Contract

A legal doctrine stating that only parties involved in a contract are entitled to enforce it or be sued under it.

Royal Bank

Typically refers to a bank that has been granted a royal charter, recognizing it as a privileged financial institution.

Equitable Assignment

An equitable assignment is the assignment or transfer of rights or interests in a property or contract to another party, recognized by equity and not necessarily by law.

Privity of Contract

A principle stating that only the parties involved in the contract have the rights and obligations under that contract.