An organization of producers of similar produces, which controls output with the intention to fix...
COMMERCE
WAEC 2021
An organization of producers of similar produces, which controls output with the intention to fix price is a
- A. trust
- B. syndicate
- C. consortium
- D. cartel
Correct Answer: D. cartel
Explanation
A cartel is a business association made up of a combination of independent commercial or industrial enterprises who come together to eliminate competition, fixing pricings or restricting outputs of good and services.
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