After viewing the two videos (copy and paste the links) https://www.youtube.com/watch?v=ZtZNw360x6c&list=PLPJpiw1WYdTORdGQgLULsRLPCuap8GC2w&index=8 (YouTube site) & https://www.youtube.com/watch?v=Yr5_049654Q (YouTube) address the questions below: 1. What is "price gouging"? 2. Why do some people argue that price gouging is a bad thing? Why do others say that it's a positive thing? What do you think? 3. Should companies be penalized, or individuals thrown in jail for raising prices or selling "gouged" supplies? What, if anything, does this help protect against? Do you think it is a fair punishment? Why or why not? 4. What, if anything, gives suppliers incentive to send extra flashlights or generators, for example, to areas hit by hurricanes? Defend your answer. 5. Art Carden argues that prohibiting price gouging prevents companies from "bringing more supplies to the market." What does he mean by this? Why does Richard Wolff in the first video say that it is the opposite, that allowing price gouging actually keeps supply down? Use what you have learned about markets and price controls to evaluate the positions and defend one or the other. (Discussion questions adapted from http://stosselintheclassroom.org/videos/is_price_gouging_bad/)