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:
“Since an intelligence common to us all makes things known to us and formulates them in our minds, honorable actions are ascribed by us to virtue, and dishonorable actions to vice; and only a madman would conclude that these judgments are matters of opinion, and not fixed by nature.”
—Marcus Tullius Cicero (106–43 B.C.)
“Money won is twice as sweet as money earned.”
—Richard Price (b. 1949)