price-fixing

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Thân thiện
Definition

Noun: - Illegal control of prices: The illegal practice where competing businesses agree, either explicitly or implicitly, to set prices at a certain level, rather than letting them be determined by free-market competition. This can also refer to government control of prices for certain commodities.

Usage
  • As a subject: Price-fixing is considered a serious antitrust violation.
  • As an object: The government investigated the companies for alleged price-fixing.
  • With modifiers: The international price-fixing scheme affected markets worldwide.
Examples
  • The two electronics manufacturers were found guilty of price-fixing and faced heavy fines.
  • Laws against price-fixing are designed to protect consumers from artificially high costs.
  • The scandal involved a complex price-fixing agreement that lasted for years.
Advanced Usage
  • "to engage in price-fixing": to participate in an illegal agreement to set prices.
    • Several executives were convicted for conspiring to engage in price-fixing.
  • "price-fixing cartel": a group of companies that collude specifically to control prices.
    • The regulator dismantled a powerful price-fixing cartel in the automotive parts industry.
Variants and Related Words
  • Price fixer (noun): A person or company that engages in price-fixing.
    • The convicted price fixer was banned from holding a directorship.
  • Fix prices (verb phrase): The action of setting prices illegally.
    • The companies were accused of conspiring to fix prices.
Synonyms
  • Collusion: Secret or illegal cooperation, especially to cheat or deceive others, such as in setting prices.
  • Antitrust violation: A broad term for illegal activities that restrict competition, including price-fixing.
Related Phrases
  • Bid rigging: A form of fraud where parties agree in advance who will win a bid, which is a related antitrust offense.
  • Market allocation: An illegal agreement where competitors divide markets among themselves, often occurring alongside price-fixing.
Noun
  1. control (by agreement among producers or by government) of the price of a commodity in interstate commerce