One of the mysteries of the English language finally explained.
A practice whereby rival companies come to an illicit agreement not to sell goods or services below a certain price.
- ‘A company spokesman says the quotes were taken out of context and the business is so competitive that price-fixing makes no sense.’
- ‘Restrictive practices such as price-fixing agreements between competitors were often permitted providing they were not shown to be against the public interest.’
- ‘A new law is expected to make price-fixing by big business cartels a criminal offence, meaning bosses could - in theory - receive a prison sentence.’
- ‘The most serious forms of cartel identified by the authority were price-fixing, bid rigging and market sharing by competitors.’
- ‘The cost of price-fixing is not really borne by the large corporate customer, but by all of society.’
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