English version

price fixing

From Longman Dictionary of Contemporary English
Related topics: Economics, Trade
price fixingˈprice ˌfixing noun [uncountable]  1 PEa system in which the government decides the prices of things syn price control2 BBTan agreement between producers and sellers of a product to set its price at a high level
From Longman Business Dictionary
Related topics: Trade, Economics, Law
price-fixingˈprice-ˌfixing noun [uncountable]1COMMERCELAWwhen companies in an industry agree on the prices they will charge for something. This form of price-fixing is done so that companies avoid competing with each other, and is normally illegalThe EU investigated international telephone agreements to see if there was price-fixing in violation of EU competition rules.Japan’s Fair Trade Commission ordered 13 ink makers to break up a price-fixing cartel (=arrangement between a group of companies).2COMMERCELAWwhen a company tells the shops etc that sell its products how much they must charge for them. This form of price-fixing is sometimes illegal SYN retail price maintenance BrEThe UK’s last price-fixing arrangement was retail price maintenance for non-prescription medicines.3ECONOMICSwhen a government decides the price at which something should be soldgovernment price-fixing for the sale of drugs to the National Health Service
Pictures of the day
Do you know what each of these is called?
Click on the pictures to check.