Pronunciation: [fˈɪksɪŋ pɹˈa͡ɪs] (IPA) 
The correct spelling of the phrase "fixing price" is /ˈfɪksɪŋ praɪs/. The word "fixing" comes from the verb "fix," meaning to establish or regulate. The -ing ending is added to form the present participle. "Price" is spelled with a "c" before "e" to reflect its origin from the Old French word "pris," which means "value." Together, the two words indicate the act of determining and setting a value for a good or service.
Fixing price refers to the establishment or setting of a specific price for a product or service by an individual, organization, or authority. This fixing of prices can occur in various contexts, including business transactions, government regulations, or within specific markets.
In business and commerce, fixing prices can be seen as a collusion or agreement among competing organizations or individuals to manipulate or control the prices of goods or services. This is generally considered an anti-competitive practice and may be illegal in many jurisdictions.
From a regulatory perspective, fixing prices can also be done by government authorities or agencies to achieve specific economic objectives. For instance, a government may fix prices on essential goods and services to ensure affordability or stabilize the economy during times of inflation or recession.
Within certain markets, such as financial markets, stock exchanges, or commodities, fixing prices can refer to a formalized process of determining and announcing the official or reference price of a particular asset or commodity at a given time. This fixing of prices guarantees transparency and uniformity in trading and helps establish fair market value.
Overall, fixing price involves the deliberate setting of prices either by market participants or regulatory bodies, with the aim of influencing market dynamics, achieving economic goals, or ensuring fairness in trade. The implications and legality of fixing prices vary depending on the context and jurisdiction in which it occurs.
The word "fixing price" is composed of two parts:
1. Fixing: The term "fixing" comes from the verb "to fix", which originated from Old French "fixer" and Latin "fixus". It ultimately derives from the Latin word "figere", meaning "to fasten" or "to make firm". In the context of pricing, "fixing" refers to establishing or setting a specific price for a product or service.
2. Price: The word "price" has its roots in Old English "pris", which meant "value" or "price". It is related to the Latin word "pretium", which has a similar meaning. Over time, "price" has come to refer specifically to the amount of money or goods that are given or required in exchange for something.
