price fixing
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price fixing
n.
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.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
price′ fix`ing
or price′-fix`ing,
n.
the establishing of prices at a determined level, either by a government or by mutual consent among producers or sellers of a commodity.
[1945–50]
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
price fixing
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.
Dictionary of Unfamiliar Words by Diagram Group Copyright © 2008 by Diagram Visual Information Limited