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:

Voluntary Delivery

The deliberate and willing transfer of possession of an item from one party to another without coercion.

Common Carriers

Entities that provide transportation services to the general public for a fee.

Absolutely-Strictly-Liable

Refers to a legal standard where a party is held responsible for damages or harm without the need to prove negligence or fault.

Bailed Goods

Refers to items that are in the possession of someone other than the owner, under a bailment agreement, where the recipient (bailee) is responsible for the care and return of the goods.