23 March, 2013 | Tourism

Is High Price a Rip – off?

An article in the Courier Mail reported that an iconic rock band was charging fans to meet the band at a concert and concluded this was a rip-off. Other examples of supposed rip-offs one will read about from time to time include the price of major sporting event tickets and concert tickets.

What should be done about these “rip-offs”? A little bit of information on the role of prices and how they bring together buyers and sellers in a market should convince you that doing nothing is usually the best course of action for all.


23 March, 2013 | Tourism

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