BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Price fixing, bid rigging, and other forms of collusion are illegal and are subject to criminal prosecution by the Antitrust Division of the United States Department of Justice.

Detailed explanation-2: -Collusion is illegal in the United States, Canada and most of the EU due to antitrust laws, but implicit collusion in the form of price leadership and tacit understandings still takes place.

Detailed explanation-3: -Collusion is illegal in many countries worldwide. Antitrust laws aim to prevent companies from engaging in collusion by making it harder for companies to navigate and implement a colluding agreement. Industries with strict regulations may make it difficult for other companies to collude with other entities.

Detailed explanation-4: -Collusion is a non-competitive, secret, and sometimes illegal agreement between rivals which attempts to disrupt the market’s equilibrium. The act of collusion involves people or companies which would typically compete against one another, but who conspire to work together to gain an unfair market advantage.

Detailed explanation-5: -A distinction exists between explicit collusion, concerted practice, and tacit collusion. Explicit collusion between competitors, which includes communication and agreement with respect to core elements of competition, is illegal worldwide.