Question

Here's an ethical question for you. Suppose you are a business person who has an opportunity to make a lot more money by meeting with your competitors and fixing prices, conduct which is illegal. In this hypothetical, the authorities will never be able to discover that the prices have been fixed because the price rise is so small - just pennies - but the increase in your net profit would be considerable. Please discuss the following:

1. Would you agree to the price-fixing arrangement? Why or why not? (i.e. do you think it's fair? ethical? socially responsible?)

2. Would your answer change depending on how the extra profit would be used? (i.e. for the good of the community?)

3. Would your answer be different if there was an "even" chance that you might get caught?

Answer 1

Answer :-

Price fixing is rarely fair or ethical. Price fixing is an enemy of competitive activity that ruins the consummation for the industry.

2. It is social responsibility of the entities to keep the opposition healthy for the industry just as for the society. The price fixing is unhealthy for finishing just as for society.

Regardless of whether the profits earned by price fixing are given for charitable exercises, it would make an unhealthy rivalry practice. That isn't acceptable in any way.

3. If there was an even possibility that you would be gotten, price fixing won't be motivated and subsequently it will be lesser viable. Therefore No because doing the right thing will pay off and I will know that no matter what, I will have a good & honest business and that is all that matters.