After any major hurricane, there are always wide complaints of gasoline price gauging. But some argue that market forces should always be allowed to play out and that higher prices ensure that refineries will have the incentive to get the fuel to where it’s needed, and that artificially low prices result in shortages. If the market was unable to assign higher prices, the market would then replace the high prices with scarcity. What is right?
2/ Wisdom (Do not need to use 8 key question above)
Confucius stated that wisdom can be learned by three methods: Reflection (the noblest), imitation (the easiest) and experience (the bitterest). Give an example of each method in your life or that of another.
Sample Solution