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Profiteering is a pejorative term for the act of making a profit by methods considered unethical.[1] Business owners may be accused of profiteering when they raise prices during an emergency (especially a war).[2] The term is also applied to businesses that play on political corruption to obtain government contracts. Some types of profiteering are illegal, such as price fixing[3] syndicates and other anti-competitive behaviour, for example on fuel subsidies (see British Airways price-fixing allegations), or restricted by industry codes of conduct, such as aggressive marketing of products in the Third World such as baby milk (see Nestlé boycott). |
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