What is the difference between monopolies and cartels?

History

2 answers:

Vilka [71]3 years ago

7 0

Monopolies- the exclusive possession or control of the supply or trade in a commodity or service.

Cartels- an association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.

Explain the difference between a monopoly and an oligopoly, and a cartel. In a monopoly there is only one firm that supplies particular product/goods. ... A cartel is an agreement among competing firms. This is formal agreement among manufacturers or producers to fix prices, and the quantity produced.

Hope It Helps.

Sergio039 [100]3 years ago

6 0

Theres your answer if the quick box don't help go check out the website

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