and what does the term big rigging mean?
2007-01-28 07:02:11 · 4 answers · asked by Anonymous in Business & Finance ➔ Small Business
Price fixing is an agreement, usually illegal, between competing companies to sell goods or services at a specific non-competitive price.
Bid (not "big") rigging is the process of falsifying bids for goods or services to affect the final award price. It is also illegal.
2007-01-28 07:08:00 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
price fixing is an illegal act . when say 3 gas stations in the town that is all of them decide that they will sell gas for $4.00 a gallon
they all agree to keep this high price and they all profit from this high price they have thus fixed the price at 4 dollars and made composition a thing of the past.
as for big rigging i never heard of that.
2007-01-28 15:07:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
price fixing is normally an agreement to work at/for a fixed price to evade competition.
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2007-01-29 08:07:02 · answer #3 · answered by sunil s 4 · 0⤊ 0⤋
Illegal activities that shut out competition....that can lead to the Customer getting cheated.
2007-01-28 15:05:57 · answer #4 · answered by smiling_freds_biz_info 6 · 0⤊ 0⤋