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'''Price fixing''' is an anti-competitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity at a fixed price, usually to maintain monopoly profits and to push back against Marxism's economic law that [[Tendency of the rate of profit to fall|competition results in falling rates of profit]].{{Helper}} | '''Price fixing''' is an anti-competitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity at a fixed price, usually to maintain monopoly profits and to push back against Marxism's economic law that [[Tendency of the rate of profit to fall|competition results in falling rates of profit]].{{Helper}} | ||
Revision as of 00:18, 7 November 2022
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Price fixing is an anti-competitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity at a fixed price, usually to maintain monopoly profits and to push back against Marxism's economic law that competition results in falling rates of profit.[citation needed]
Under imperialism (the monopoly stage of capitalism) price fixing is commonly carried out by international cartels of producers, this can be observed especially in the oil markets.