Do you consider it exploitation if I make abnormal profits as the sole dealer of a particular product in a location?

[Min George]

Supposing I am the only one selling a particular product in my location. Would it be unethical or exploitative if I fix my prices to make abnormal profits from my products.

Would you sell at an abnormal price to make more profits since you don't have competition?

 

[Trush Jodie]

It is exploitation. At any point one takes advantage of the loopholes in the market to make abnormal profits, it is exploitation.

 

[Fidelia]

I have a conscience and I always charge my customers prices that are fair. The understanding is that I am also a customer for another business owner and I won't like for someone to take advantage of market gaps to exploit me.

 

[Augusta]

This is why some business owners want monopoly like Dangote in my country . This is nothing but bare faced exploitation. you just want to make huge profit by exploiting others

 

[King Belieal]

This is why some business owners want monopoly like Dangote in my country . This is nothing but bare faced exploitation. you just want to make huge profit by exploiting others

I would agree with you here. Dangote has exploited Nigerians so much with cement and people hated him. That's why his refinery struggled to take off and it didn't bother anyone.

 

[eLdavis]

Yes in this case it can be considered as you exploiting the people in that location. Set your price in a way that they can afford and you still make your profit.