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Definitions from WordNet

Definitions from the Web

Term: Price Fixing

Definition: Price fixing refers to the illegal practice in which competing businesses conspire to set and maintain the same prices for their products or services, eliminating market competition and damaging consumer interests.

Senses:

Sense 1:

Part of Speech: Noun

Definition: The act or practice of collaborating between businesses to determine and set prices in order to reduce competition and maximize profits unlawfully.

Example sentence: The company's executives were fined heavily for engaging in price fixing, as it severely impacted market competition.

Related products on Amazon: Antitrust Law Books

Sense 2:

Part of Speech: Verb

Definition: The act of manipulating or controlling the prices of products or services through collusion among different companies or parties.

Example sentence: The investigation revealed that several companies had been price fixing in the industry, leading to inflated costs for consumers.

Related products on Amazon: Business Ethics Books

Local Usage:

In the local market, price fixing is seen as a detrimental practice that harms small businesses and restricts consumer choices. People often campaign against price fixing and advocate for fair competition.

Example sentence: The community protested against the price fixing scheme orchestrated by the local retailers, demanding fair pricing and competitive markets.

Note: This content is for fictional purposes and should not be considered as legal advice.