ECON 201 OCC Whats Wrong with Price Gouging Article Summary

Description

NO PLAGARIZM MAIN AND IMPORTANT THING NO PLAGARIZM
Step 01: Read the article “What’s wrong with price gouging?”What’s wrong with price gouging? – The Boston Globe by Jeff Jacoby. The article talks about how public officials, Martha Coakley, the Attorney General, and Patrick Deval, the Governor, of Massachusetts, react to increases in the price of bottled water after an emergency.
Step 02: Compose a full, one-page (about 350 words) essay describing what you have read and learned. Below are some prompts you may use as discussion ideas for your essay. Provide details from the article; avoid being too vague or repetitive. Although you are summarizing the article, analyze what you have read, and present your thoughts in an organized manner.
Discussion prompts (you may consider several of these, or consider other aspects of your own):
o How does Jeff Jacoby’s (the author of the article on price gouging) justify letting businesses set the price of a product even in the face of a community crisis? Compare this to the reactions of the Attorney General and the Governor of Massachusetts.
o How does a higher price for bottled water or late-night rides provide incentives for suppliers? You can cite examples from the articles.
o How does a higher price for bottled water or late-night rides change the behavior of consumers? You can cite examples from the articles.
o Can you think of other ways to ration goods and services in the market place, especially in the face of a shortage during a crisis, that is fair?
o In your opinion how much should government involve themselves in the market place? For example, with Uber rides, or during a water crisis?
Proper citations must be used for direct quotes or ideas not your own. Don’t feel you have to cite every line, but do try to make it clear you are summarizing another’s ideas. Certainly, use quotes if you are directly quoting even a single sentence. Additionally, if you are referencing more than one article, or another source, make sure it is clear from which source you are summarizing or getting your ideas. 

Explanation & Answer:
100 Words

Tags:
price gouging

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