Profiteering (business)

Profiteering is a pejorative term for the act of making a profit by methods considered unethical.

Business owners may be accused of profiteering when they raise prices during an emergency (especially a war). The term is also applied to businesses that play on political corruption to obtain government contracts. Some businesses don't actually gouge the prices of their own goods; they might buy out an entire stock of something, only to resell it at an absurdly higher price.

Some types of profiteering are illegal, such as price fixing syndicates and other anti-competitive behaviour, for example on fuel subsidies (see British Airways price-fixing allegations), or restricted by industry codes of conduct such as aggressive marketing of products in the third world such as baby milk (see Nestlé boycott).

Types of profiteering

• Price fixing
• Price gouging

Laws

• UK: Chapter 1 of the Competition Act 1998

See also

• Hoarding (economics)
• Business ethics
• War profiteering
• Price gouging
• Product sabotage
• Supracompetitive pricing
• Ticket scalping

Example cases

• British Airways price-fixing allegations

This article related to microeconomics is a stub. You can help Wikipedia by expanding it.v · Categories: Business terms Profit Microeconomics Microeconomics stubs Wikimedia Foundation. 2010. Игры ⚽ Поможем сделать НИР Chris Owens LRC Look at other dictionaries: Profiteering — may relate to:* Profiteering (business) (peace time) * War profiteering * Propheteering, a neologism combining prophet with profiteering …   Wikipedia Business and Industry Review — ▪ 1999 Introduction Overview        Annual Average Rates of Growth of Manufacturing Output, 1980 97, Table Pattern of Output, 1994 97, Table Index Numbers of Production, Employment, and Productivity in Manufacturing Industries, Table (For Annual… …   Universalium BUSINESS ETHICS — The Role of Wealth Any discussion of business ethics, within any cultural or religious framework, requires at the very outset a definition of the role of material wealth, financial assets, and other forms of economic possessions. Furthermore,… …   Encyclopedia of Judaism War profiteering — A war profiteer is any person or organization that improperly profits from warfare or by selling weapons and other goods to parties at war. The term has strong negative connotations. General profiteering may also occur in peace time.TypesBlack… …   Wikipedia McDojo — is a pejorative term used by some Western martial artists to describe a martial arts school where image or profit is of a higher importance than technical standards. The term is an example of McWords applied to Japanese martial arts dojo.Cotroneo …   Wikipedia HAFKA'AT SHE'ARIM — (Heb. הַפְקָעַת שְׁעַרִים), raising the price of a commodity beyond the accepted level, or that fixed by a competent authority.   Profiteering and Overreaching The law of Hafka at She arim ( profiteering ) is analogous to that of overreaching… …   Encyclopedia of Judaism Labour Party (UK) — Labour Party …   Wikipedia Odex — Pte Ltd Type Private Limited Industry Animation related distribution Founded Singapore (1987) Headquarters …   Wikipedia CONSUMER PROTECTION — is a new area of law; hence, the term does not appear in classical sources of Jewish law. The meaning of the concept is implied in the term itself: our generation is one of abundance, with great demands, numerous consumers, and extensive… …   Encyclopedia of Judaism All My Sons — Infobox Play name = All My Sons image size = caption = writer = Arthur Miller characters = Joe Keller Kate Keller Chris Keller Ann Deever George Deever Frank Lubey Lydia Lubey Jim Bayliss Sue Bayliss Bert setting = The Keller s yard in late… …   Wikipedia 18+ © Academic, 2000-2024 Contact us: Technical Support, Advertising Dictionaries export, created on PHP, Joomla, Drupal, WordPress, MODx. Mark and share Search through all dictionaries Translate… Search Internet Share the article and excerpts Direct link … Do a right-click on the link above and select “Copy Link”