GENERAL KNOWLEDGE

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 when two or more parties secretly agree to defraud a third-party of their rights or accomplish an illegal purpose.

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: -: secret agreement or cooperation especially for an illegal or deceitful purpose.

Detailed explanation-5: -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.