Illegal activity in which several firms agree upon a fixed retail price for a product within a given market area.
Price fixing is an agreement between business competitors selling the same product or service regarding its pricing. In general, it is an agreement intended to ultimately push the price of a product as high as possible, leading to profits for all the sellers. Price-fixing can also involve any agreement to fix, peg, discount or stabilize prices.
illegal collusion by tendering suppliers to avoid competition in prices. Also referred to as Bid-rigging.
Establishing the price of a product or service, rather than allowing it to be determined naturally through free market forces. Often illegal.
agreement among competitors to sell at the same price (which is illegal in many countries).
The practice of fixing the price for a particular product or service by the government or a business, instead of letting it to react freely to market forces. The government fixes prices in order to eliminate price fluctuations for certain commodities. If private business uses this practice in order to obtain artificially high prices it is considered illegal.
Agreement among competing vendors to sell at the same price.
An illegal practice among competitors of setting the same price for a product. Also known as price gouging.
An illegal practice in which competitors agree on certain price ranges within which they set their own prices.
Illegal effort by competing businesses to maintain a uniform price, such as commission rate on the sale of real estate.