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price fixing

Related topics: Economics, Trade
ˈprice ˌfixing noun [uncountableU]  
1. PEa system in which the government decides the prices of things 价格管制，物价控制 SYN price control
2. BBTan agreement between producers and sellers of a product to set its price at a high level 价格垄断，操纵物价
From Longman Business Dictionary
Related topics: Trade, Economics, Law
price-fixingˈprice-ˌfixing noun [uncountableU]
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 illegal
The 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 illegalSYN BrE retail price maintenance
The 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 sold
government price-fixing for the sale of drugs to the National Health Service
ˈprice ˌfixing noun
Chinese
Syllable

See also: price fixing

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