Definition of price-fixing in English:
price-fixing
nounˈprʌɪsfɪksɪŋˈpraɪs ˌfɪksɪŋ
mass nounA practice whereby rival companies come to an illicit agreement not to sell goods or services below a certain price.
Example sentencesExamples
- 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.
Definition of price-fixing in US English:
price-fixing
(also price fixing)
nounˈprīs ˌfiksiNGˈpraɪs ˌfɪksɪŋ
The maintaining of prices at a certain level by agreement between competing sellers.
Example sentencesExamples
- The cost of price-fixing is not really borne by the large corporate customer, but by all of society.
- A company spokesman says the quotes were taken out of context and the business is so competitive that price-fixing makes no sense.
- 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.
- Restrictive practices such as price-fixing agreements between competitors were often permitted providing they were not shown to be against the public interest.
- The most serious forms of cartel identified by the authority were price-fixing, bid rigging and market sharing by competitors.