Exorbitancy refers to the state or quality of being excessive, extravagant, or beyond what is considered normal, reasonable, or justifiable. Derived from the adjective "exorbitant," which means exceeding the customary or proper limits, exorbitancy describes something that is unreasonably high, exorbitant, or inflated in terms of cost, price, quantity, or demand.
In the realm of economics, exorbitancy refers to exorbitant rates, prices, or fees that are substantially higher than what is generally expected or customary for a particular product, service, or industry. It suggests a lack of fairness, reasonableness, or proportion, often associated with price gouging or exploitative practices.
Moreover, exorbitancy extends beyond the economic context and can also be used to describe behavior or actions that are excessively or unreasonably extreme, whether in terms of ambition, demands, requests, or expectations. It can describe a person's immoderate or unreasonable behavior that goes beyond the bounds of what is considered appropriate or acceptable.
Furthermore, the term exorbitancy can be applied to describe excessive or extravagant claims, demands, or requirements imposed by an individual, organization, or authority, which may be regarded as unfair, unreasonable, or unjust. It conveys an element of imbalance, reflecting a disproportion between what is demanded or sought and what is fair, legitimate, or justifiable.
