Applied Business Law-3

Law
Tutor: None Selected Time limit: 1 Day

  • Is this price-fixing fair? Ethical? Socially responsible?
  • Does it make any difference what the extra profit is used for such as charity, employee raises, or expansion?
  • Oct 16th, 2015

    Thank you for the opportunity to help you with your question!

    Thank you for the opportunity to help you with your question!

    Thank you for the opportunity to help you with your question!

    Being that it is an agreement among competitors to maintain a price at certain level, those engaging in the practice may think its fair and say it is the only way to turn in profits.

    In real sense price fixing compromises the integrity of natural law. Thus, making it illegal. Businesses colluding makes it difficult for other businesses to compete fairly in an open market situation, as the colluding businesses control the market structures of demand and supply.

    Hence price fixing is not fair to other businesses nor is it ethical or social responsible and can be prosecuted in a court of law

    Please let me know if you need any clarification. I'm always happy to answer your questions.Please let me know if you need any clarification. I'm always happy to answer your questions.Please let me know if you need any clarification. I'm always happy to answer your questions.
    Oct 16th, 2015

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