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Sam's meat market raised prices considerably during peak tourist seasons, knowing that consumers would be willing to pay higher prices for premium meats. this is an example of

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I believe that would be Supply and demand. 

Hope I helped
ogorwyne

If Sam's meat prices raised during peak tourist seasons because consumers would be willing to pay, its an example of what is known as price gouging.

Price gouging can be described as a situation whereby retailers would have to raise the prices that they sell their goods or services because they know that the goods are necessities that are being required in high demand.

Such situations happen in circustamces such as:

  • Natural disasters
  • State of emergencies
  • Demand and supply shock.

Price gorging is an illegal act.

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