JAMB - Commerce (2025 - No. 61)
An organization of producers of similar products, which controls output with the intention to fix price is a
cartel
trust
syndicate
consortium
Paliwanag
An organization of producers of similar products, which controls output with the intention to fix price is a cartel. A cartel is a
group of independent market participants who collude with each other in order to improve their profits and dominate the market.
They do this by controlling the production and price of a product or service. The other options do not accurately describe this
type of organization.
group of independent market participants who collude with each other in order to improve their profits and dominate the market.
They do this by controlling the production and price of a product or service. The other options do not accurately describe this
type of organization.