a gouged price is a price that exceeds the fair market value, due to a short term scarcity or other circumstance, that typically can’t be changed under normal circumstances.

but i’m guessing you don’t want a clear definition?

a fair market price is a price set under normal market conditions of supply and demand. Where I live a fair market rent for a 1 bedroom apartment is 3,000. Maybe people find that unfair because they can’t afford it. I can and I find it fair, and the vacancy rate in my city is below 1%, so 99% of people here also find that fair.