PRICE FIXER Meaning and
Definition
-
A "price fixer" refers to an individual or entity that engages in the unlawful practice of manipulating or controlling prices of goods or services in a market. The term is commonly associated with antitrust laws, which aim to promote fair competition by prohibiting activities that restrict or distort the free market. Price fixing typically involves collusion between competing businesses or individuals either horizontally (across similar industries) or vertically (through the supply chain).
Price fixers unlawfully conspire to set prices at artificially high levels, rather than allowing them to be determined by the forces of supply and demand. By eliminating market competition, they seek to maximize profits and maintain a stable, but unjust advantage over other market participants. This practice often harms consumers by denying them the benefits of fair pricing and stifling innovation.
Price fixing can take various forms, such as setting minimum or maximum prices, establishing price floors or ceilings, coordinating price increases, or agreeing on common pricing strategies. Such actions are considered illegal in most jurisdictions, as they undermine market efficiency, reduce consumer choice, and can lead to monopolistic tendencies. Governments enforce strict penalties, including fines and even imprisonment, to deter price fixers and protect fair competition.
In summary, a price fixer engages in the manipulative act of controlling prices in order to suppress competition and maximize profits, contravening antitrust laws and harming consumer welfare.
Common Misspellings for PRICE FIXER
- orice fixer
- lrice fixer
- 0rice fixer
- peice fixer
- pdice fixer
- pfice fixer
- ptice fixer
- p5ice fixer
- p4ice fixer
- pruce fixer
- prjce fixer
- prkce fixer
- proce fixer
- pr9ce fixer
- pr8ce fixer
- prixe fixer
- prive fixer
- prife fixer
- pride fixer
- pricw fixer
Etymology of PRICE FIXER
The word "price fixer" has a straightforward etymology. It is composed of two separate words:
1. Price: The word "price" originated from the Old French word "pris" or "prix", which ultimately came from the Latin word "pretium". It refers to the value or cost assigned to a particular item or service.
2. Fixer: The word "fixer" is derived from the verb "to fix". It originates from the Latin word "fixus", which means "to fasten". In English, "fix" has various meanings, including to repair, arrange, or settle. A "fixer" is someone who resolves or settles a problem, typically by using their influence or connections.
Infographic
Add the infographic to your website:
