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What is the name for a formal organization of producers that agrees to coordinate prices and production called-?
The name for a formal organization of producers that agree to coordinate prices and production is called a cartel.
How did a cartel control prices?
Businesses agreed to limit production.
How did cartel control prices?
Businesses agreed to limit production.
What is a cartel?
a group of producers working together to raise prices and profits
Which of these groups of producers working together to raise prices and increase profits?
A Cartel
The OPEC cartel is concerned with the setting of policies and prices for the sale of?
Crude oil.
What is the name for a formal organization of producers that agrees to coordinate prices and production called-?
The name for a formal organization of producers that agree to coordinate prices and production is called a cartel.
What is the name for a formal organization of producers that agree to coordinate prices and production?
A cartel.
How did a cartel control prices?
Businesses agreed to limit production.
How did cartel control prices?
Businesses agreed to limit production.
What is a cartel?
a group of producers working together to raise prices and profits
Which of these is a group of producers working together to raise prices and increase profits?
cartel
Which of these groups of producers working together to raise prices and increase profits?
A Cartel
What conditions should be fulfilled for existence of a cartel. what is a centralised and market sharing cartel?
A cartel is an agreement among competing firms. Prices, marketing, and production come with fixed prices. A centralized and market sharing cartel is loosely formed and distribution of profits are not determined in a perfect manner. Each market is able to change the product in small ways, so as not to produce the same product.
What is the primary goal of both a monopol and a cartel?
to control competition and keep prices high
What is the primary goal of both monopoly and a cartel?
To control competition and keep prices high
What is the name for a formal organization of producers that agrees to coordinate prices and production called what?
A cartel
