A ripoff (or rip-off) is an unfavorable
financial transaction
A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. A ...
. Usually it refers to an incident in which a person is
overcharge
Overcharge is an economic term that refers to the difference between an observed market price and a price that would have been observed in the absence of collusion. The latter is often called a "but-for price" or a competitive "benchmark price". W ...
d for something, or receives goods or services not of the standard expected for the price. A ripoff is usually distinguished from a
scam
A confidence trick is an attempt to defraud a person or group after first gaining their trust. Confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, confidence, irresponsibility, and greed. Researchers have ...
in that a scam involves wrongdoing such as a
fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compen ...
; a ripoff may be considered excessive, but not illegal.
See also
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Rip-off Britain
Rip-off Britain is an expression used by some to refer to the phenomenon in which some products and services cost significantly more in the United Kingdom than in other countries, especially member states of the European Union and the United St ...
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Spin-off
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Knock-off
Counterfeit consumer goods (or counterfeit and fraudulent, suspect items - CFSI) are goods, often of inferior quality, made or sold under another's brand name without the brand owner's authorization. Sellers of such goods may infringe on eith ...
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Plagiarism
Plagiarism is the fraudulent representation of another person's language, thoughts, ideas, or expressions as one's own original work.From the 1995 '' Random House Compact Unabridged Dictionary'': use or close imitation of the language and though ...
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Mockbuster
A mockbuster (also known as knockbuster or a drafting opportunity) is a film created to exploit the publicity of another major motion picture with a similar title or subject. Mockbusters are often made with a low budget and quick production to ma ...
References
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Pricing controversies