ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Price rigging occurs when parties conspire to fix or inflate prices to achieve higher profits at the expense of the consumer. Also known as “price fixing” or “collusion, ” price rigging can take place in any industry and is usually illegal.

Detailed explanation-2: -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-3: -In a predatory pricing scheme, prices are set unrealistically low in order to eliminate competitors and create a monopoly. Consumers benefit from lower prices in the short term but suffer in the long term as the successful predator has eliminated choice and is free to raise prices.

Detailed explanation-4: -Markup (or price spread) is the difference between the selling price of a good or service and cost. It is often expressed as a percentage over the cost. A markup is added into the total cost incurred by the producer of a good or service in order to cover the costs of doing business and create a profit.

Detailed explanation-5: -Subscription-based (SVOD) digital streaming services like Netflix and Hulu (where you pay a monthly fee) Advertising-based (AVOD) streaming services like Roku and Tubi (which are free but have ads) More items