When the Price of Gasoline Rose to $4 Per Gallon

question 248

Essay

When the price of gasoline rose to $4 per gallon in the summer of 2008, many people were outraged at how gas companies were "price gouging" individuals, and called for price controls on gasoline. If the government had agreed to legally cap the price of gasoline, would this have lowered the cost to consumers? Explain.

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Definitions:

Job Sample Simulation

A pre-employment assessment technique where candidates perform tasks or work activities that mirror the actual job responsibilities.

Legally Defensible

A position, action, or decision that can be successfully upheld and justified in a court of law.

Performance Appraisals

The process of evaluating an employee's job performance and productivity, usually against pre-established criteria or objectives.

Legally Defensible

A position, action, or decision that can be successfully upheld in a court of law.