Definition, Meaning & Synonyms

profiteering

noun

/ˌprɒf.ɪˈtɪə.rɪŋ/

Definition

The act of making excessive profit, especially in times of crisis or under circumstances viewed as unethical.

Examples

During the pandemic, some companies faced criticism for profiteering by selling essential goods at inflated prices.
The government enacted laws to prevent profiteering from essential healthcare products in times of crisis.

Meaning

Profiteering typically refers to the practices of businesses that take advantage of an unusual situation, such as a natural disaster or economic instability, to increase prices significantly and earn greater profits than what is considered fair and reasonable.