Tag: challenges and solutions

• If a shop owner keeps his shop open during a hurricane, at personal risk, and sells bottled water at a higher price compensate for his risk-taking, he can be called as a profiteer.
  
• A profiteer is someone who makes an unreasonable profit especially during times of emergency like cyclones, floods etc. it is considered unethical.
  

Prevention of Corruption Act was enacted in the year 1988. This act was enacted to combat corruption in government agencies and public sector businesses in India. This was amended in 2013 which framed the guidelines for commercial organizations to prevent their employees/associates from giving bribes to public servants and average trial period of cases is decreased to 2 years from 8 years.

International Anti-Corruption Day is observed on 9th December. This day was made international anti-corruption day since the passage of the United Nations Convention against Corruption on 31 October 2003. 

Smuggling is the illegal transportation of objects, substances, information or people. Smuggling includes illegal trade, such as in the drug trade, illegal weapons trade, exotic wildlife trade, illegal immigration or illegal emigration, tax evasion etc.

Goods smuggling, Women trafficking, Child trafficking are the types of smuggling.

• Goods smuggling is a process where merchants attempt to supply demand for a good or service that is illegal. It includes smuggling of drugs, weapons etc.
  
• Women trafficking is a kind of smuggling in which women are transported for sexual services.
  
• Child trafficking is another kind of smuggling in which children are transported for sexual services and also to carry out the work.
  

The state that established special courts to facilitate time bound disposal of corruption cases and attachment of assets is Andhra Pradesh. The Andhra Pradesh Assembly on 3 September 2015 passed the Andhra Pradesh Special Courts Bill, 2015 for the constitution of special courts to facilitate time bound disposal of corruption cases and attachment of assets.

The profiteering act in England was introduced for the first time in the year 1919. This act conferred following powers on Board of Trade.

• To investigate prices, costs and profits at all stages.
  
• To receive and investigate complaints regarding the making of excessive profits on the sale of any article.
  

The profiteering act in England was introduced for the first time in the year 1919. This act conferred following powers on Board of Trade.

• To investigate prices, costs and profits at all stages.
  
• To receive and investigate complaints regarding the making of excessive profits on the sale of any article.
  

Disproportionately large or grossly unfair profit, generated often through manipulation of prices, abuse of dominant position, or by exploiting a bad or unusual situation such as temporary scarcity. There is usually no governmental control over profiteering unless it involves illegal means.

Among the given options profiteering is odd because hoarding and black marketing is the illegal handling of goods where as a profiteer is someone who makes unreasonable profit especially during times of emergency like cyclones, floods etc.