What is a cartel?
Question 2a of 10 - Unfair business practices
- Maximum Attempts: 1
- Question Type: Multiple Choice
- Maximum Score: 2
- Question: What is a cartel?
- a government agency protecting the rights of consumers
- an association of labor unions working toward higher wages
- an organization of countries attempting to lower trade barriers
- a group of producers working together to raise prices and profits
The correct answer is: a group of producers working together to raise prices and profits. Cartels use price fixing and production limitation to increase the profits of their members.
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