The term fixed price is a phrase used to mean the price of a good or a service is not subject to bargaining. The term commonly indicates that an external agent, such as a merchant or the government, has set a price level, which may not be changed for individual sales. In the case of governments, this may be due to price controls.
Bargaining is very common in many parts of the world, outside of retail stores in Europe or North America or Japan, this makes this an exception from the general norm of pricing in these areas.
Read more about Fixed Price: Fixed-price Contract
Famous quotes containing the words fixed and/or price:
“I was not at all shocked with this execution at the time. John died seemingly without much pain. He was effectually hanged, the rope having fixed upon his neck very firmly, and he was allowed to hang near three quarters of an hour; so that any attempt to recover him would have been in vain. I comforted myself in thinking that by giving up the scheme I had avoided much anxiety and uneasiness.”
—James Boswell (1740–1795)
“Nowadays people know the price of everything and the value of nothing.”
—Oscar Wilde (1854–1900)