How Do You Spell PRICE RIGGING?

Pronunciation: [pɹˈa͡ɪs ɹˈɪɡɪŋ] (IPA)

Price rigging is the act of artificially manipulating prices, often by colluding with other market players. The spelling of this term is phonetically transcribed as /praɪs ˈrɪɡɪŋ/. The first syllable "pri" pronounced as /praɪ/ references the word "price" and the second syllable "rig" pronounced as /rɪɡ/ references actions of rigging and manipulating prices. The final syllable "ing" pronounced as /ɪŋ/ transforms "rig" from a noun into a verb, indicating the ongoing action of price manipulation. Price rigging is considered to be a serious violation of antitrust laws and can have significant implications for the economy and consumers.

PRICE RIGGING Meaning and Definition

1. Price rigging refers to the manipulative practice of artificially controlling or influencing the price of a product or service by colluding or conspiring among competing businesses or individuals. It involves intentionally manipulating the supply or demand of a good or service to set prices at levels that are unfair, anti-competitive, and not determined by market forces.

   In price rigging schemes, industry players may engage in secret agreements, discussions, or understandings to fix the price of a specific product, commodity, or service. This illegal practice often involves competitors collaborating to eliminate price competition, restrict market access, and maintain their market shares. By coordinating their actions, these actors establish an artificial price that is higher than what would naturally result from fair market competition.

   Price rigging can take various forms, such as bid-rigging, where competitors conspire to submit non-competitive bids for contracts or tenders, and output restriction, where competitors agree to limit their production levels to manipulate prices. These activities harm consumers, as they are denied the benefits of fair competition, including lower prices, greater choices, and product innovation.

   Price rigging is a clear violation of anti-trust laws and competition regulations in most jurisdictions. Authorities and regulatory bodies actively monitor and investigate cases of price rigging, imposing significant fines and even criminal sanctions on those found guilty. The purpose of such actions is to deter and discourage anti-competitive behaviors to ensure fair, transparent, and efficient markets for the ultimate benefit of consumers and the overall economy.

Common Misspellings for PRICE RIGGING

• orice rigging
• lrice rigging
• 0rice rigging
• peice rigging
• pdice rigging
• pfice rigging
• ptice rigging
• p5ice rigging
• p4ice rigging
• pruce rigging
• prjce rigging
• prkce rigging
• proce rigging
• pr9ce rigging
• pr8ce rigging
• prixe rigging
• prive rigging
• prife rigging
• pride rigging
• pricw rigging

Etymology of PRICE RIGGING

The word "price rigging" is derived from two separate terms: "price" and "rigging".

1. Price: The word "price" originates from the Old French word "pris", which means "value" or "price". It came into English through the Anglo-Norman French word "pris", and ultimately traces back to the Latin word "pretium", meaning "price" or "value".

2. Rigging: The term "rigging" refers to the act of manipulating or fixing something dishonestly, typically in order to gain an unfair advantage. It likely comes from the verb "rig", which has multiple related meanings including "to manipulate", "to set up", or "to tamper with" something in a deceptive way.

Plural form of PRICE RIGGING is PRICE RIGGINGS