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ENCYCLOPEDIA

OF WORLD PROBLEMS

AND HUMAN POTENTIAL

  2. World problems
  3. Over-pricing

Over-pricing

  • Overcharging

Incidence

Among the most damaging practices for developing countries is that of overpricing - particularly of essential commodities and products such as drugs. Overpricing rates of between 30 and 700% in the price of drugs have been documented in several Latin American countries.

Broader

Consumer dissatisfaction
Excellent
Profiteering
Presentable
Abuse of economic power
Presentable
Unethical practices in the service sector
Yet to rate

Narrower

Excessive cost of medical drugs
Presentable
Overcharging by doctors
Yet to rate

Aggravates

Marginal level of family income
Excellent
Exploitation in rural pricing
Yet to rate
Excessive salaries of experts
Yet to rate

Aggravated by

Short-term profit maximization
Excellent
Exclusive proprietary systems
Presentable
Domination by transnational corporations of the domestic name-brand food sector
Presentable
Counterfeiting
Presentable
Lack of consumer influence on industry
Unpresentable
Corporate greed
Unpresentable
Snobbery
Yet to rate

SDG

Sustainable Development Goal #12: Responsible Consumption and Production

Metadata

Database
World problems
Type
(E) Emanations of other problems
Biological classification
N/A
Subject
  • Commerce » Purchasing, supplying
    • Content quality
    Unpresentable
     Unpresentable
    Language
    English
    1A4N
    E5523
    DOCID
    11555230
    D7NID
    137897
    Last update
    Oct 4, 2020