ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Price fixing among marketplace competitors is called horizontal price fixing, whereas fixing prices along the supply chain is called vertical price fixing.

Detailed explanation-2: -price-fixing, any agreement between business competitors (“horizontal”) or between manufacturers, wholesalers, and retailers (“vertical”) to raise, fix, or otherwise maintain prices. Many, though not all, price-fixing agreements are illegal under antitrust or competition law.

Detailed explanation-3: -Price fixing occurs when there are a small number of companies, commonly referred to as an oligopoly, in a particular supply marketplace. This limited number of businesses offer the same product and form an agreement to set the price level.

Detailed explanation-4: -Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors to raise, lower, maintain, or stabilize prices or price levels.