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Case Study 2 - The government could either continue to...

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Carlos Galindo EHTICS PHI 1600 – 1634 Dr. Maureen Mahoney January 18, 2009 In this case, as we argue if businesses should be limited in how high their prices rise during a crisis, we look to our global views on how we should, naturally, care for each other. As the market in today’s society is based solely on supply and demand, companies of today are tempted to raise their prices in times of necessity in order to make a larger profit. As an example, oil producers may increase the cost of oil in times of shortage. Relating to the views society has created in which we must not take advantage of one another, we question whether the government should put a stop to this ‘price gouging’. In normal occasions, these businesses are still making large amounts of profit from the public.
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Unformatted text preview: The government could either continue to allow this price gouging, or put a stop to it and enforce this moral law which we’ve had since society began. For the best outcome the government should limit how much these companies may gouge their prices. Businesses are always making large sums of profit from others, and in times of crisis, they try to make even more by price gouging. To help the people in times like these, the best option would be for the government to set regulations on price gouging. This would provide security for the people, and would also still greatly increase the profit businesses make compared to ‘normal’ times....
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