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:
“If there is a price to pay for the privilege of spending the early years of child rearing in the driver’s seat, it is our reluctance, our inability, to tolerate being demoted to the backseat. Spurred by our success in programming our children during the preschool years, we may find it difficult to forgo in later states the level of control that once afforded us so much satisfaction.”
—Melinda M. Marshall (20th century)
“I haven’t read one book about
A book or memorized one plot,
Or found a mind I did not doubt,
I learned one date. And then forgot.
And one by one the solid scholars
Get the degrees, the jobs, the dollars.”
—William Dewitt Snodgrass (b. 1926)