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Price fixing is when companies that have the same products in common come together to agree to a set price. Price fixing is fair and is in the best interest of being socially responsible by protecting the market from becoming a monopoly.
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∙ 9y ago
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Which is not a major concern of socially responsible consumers?
Price [Apex]
What is one primary concern for socially responsible consumers?
Price.
A socially responsible consumer will put which of these concerns ahead of price?
A socially responsible consumer will want to make sure a decision is good for the community or the environment more so than just getting a good deal for a service or good. This is a responsible act.
What is horizontal and vertical price fixing?
Explain the differences between horizontal and vertical price fixing..
Is price fixing illegal?
Price fixing is illegal within the United States, Australia and the European Union
Is price-fixing a type of collusion?
Price fixing can only be collusion if it happens due to all the firms in an oligopoly system come together to decide the price. Price fixing can also be implemented by government (especially in agriculture sector), in which case is not considered a collusion.
How are consumer affected by illegal price fixing?
In the situation of "price fixing" the consumer generally will have to pay more for a product.
Show a list of ethical issues in a business?
Is the behavior when dealing with Customers, Suppliers, Society, and the Environment. Some examples of ethical and unethical issues are honesty or bribery when negotiating deals, price fixing, insider trading, discrimination or affirmative action in hiring, and the use of child labor.
Can Price Fixing ever be justified?
no
When a government valorizes a commodity what is it doing?
Fixing the price
What happend in the 50's of McDonald's?
Price Fixing
How would price fixing and collusion help producers?
secret
