Which one of the following statements is correct? A cartel is:
A)an arrangement put in place by competition regulators in order to create fair competition between suppliers of goods or services
B)another word for oligopoly
C)a fine levied for infringement of fair competition regulations in the UK
D)a price-fixing arrangement amongst suppliers of goods or services

Question

Quizplus · Accepted Answer

A cartel is a group of suppliers who collaborate to control the price and supply of a particular product or service. This is done through price-fixing arrangements, production quotas, and market allocation agreements. It is generally considered to be anti-competitive and illegal in most countries.

Which One of the Following Statements Is Correct? a Cartel