In economics, a price book is a book in which the normal prices of an item are listed for all suppliers. This allows one to determine the lowest price possible.
If a group of suppliers adhere to a particular price book, in other words, they set the prices of the price book artificially higher than the market clearing price, then they are "fixing the price" of that item. This is illegal in most countries and is often found in oligopolies (industries with a few competitors (2-8), but not enough to make it a perfect market).
Famous quotes containing the words price and/or book:
“The price on the wanted
poster was a-going down, outlaw alias copped my stance
and moody greenhorns were making me dance; while my mouth’s
shooting iron got its chambers jammed.”
—Ishmael Reed (b. 1938)
“The demonstrations are always early in the morning, at six o’clock. It’s wonderful, because I’m not doing anything at six anyway, so why not demonstrate?... When you’ve written to your president, to your congressman, to your senator and nothing, nothing has come of it, you take to the streets.”
—Erica Bouza, U.S. jewelry designer and social activist. As quoted in The Great Divide, book 2, section 7, by Studs Terkel (1988)