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Which one of the following is a particular form of collusive price-fixing behaviour by which firms co-ordinate their bits on procurement or project contracts?

  By GK Planet Team      
Q. Which one of the following is a particular form of collusive price-fixing behaviour by which firms co-ordinate their bits on procurement or project contracts?
  1. Predatory pricing
  2. horizontal price-fixing(collusion)
  3. Bid Rigging
  4. Exclusive Territory
Answer: Bid Rigging
Bid rigging is a fraudulent scheme in procurement auctions resulting in non-competitive bids and can be performed by corrupt officials, by firms in an orchestrated act of collusion, or between officials and firms. This form of collusion is illegal in most countries.
Predatory pricing, also known as undercutting, is a pricing strategy in which a product or service is set at a very low price with the intention to achieve new customers (Loss leader), or driving competitors out of the market or to create barriers to entry for potential new competitors.

Horizontal price-fixing occurs when two or more competitors conspire to set prices, price levels, or price-related terms for their goods or services.

Bid rigging is an illegal practice in which competing parties collude to choose the winner of a bidding process while others submit uncompetitive bids.

An exclusive territory refers to a territory or area where only the franchisee who has been granted the territory may operate, usually specified by the Master Franchisor. No other Franchisees, including the Franchisor, is allowed to operate within this territory. This includes the provision of goods or services online.
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