price fixing(redirected from Price setting)
Also found in: Medical, Legal, Financial.
1. The setting of artificially high prices for goods or services by unlawful agreement of competing companies.
2. Governmental setting of prices for goods or services.
the establishing of prices at a determined level, either by a government or by mutual consent among producers or sellers of a commodity.
An illegal arrangement between competitors to set a common minimum price for their products. Price fixing is a conspiracy usually carried out by large corporations that dominate a particular market.