Question

A cartel is a type of found in many countries. It is an agreement in which businesses agree not to with each other. Unlike many other types of business practices, a cartel is usually a agreement, mainly because they are often illegal. Cartels are found in very types of markets. They are found in markets that have of the following characteristics:__________. A. They tend to be found in an , which means there are very few competitors. B. This is not the same thing as a , in which there is only one supplier of a good or service. C. They tend to produce thing with characteristics. Examples would include diamonds and oil. D. Members of cartels tend to have that are very similar. In the United States, cartels are subject to legal action due to laws that are designed to promote competition in all marketplaces.

Answer 1

Answer:

C. They tend to produce thing with the same characteristics. Examples would include diamonds and oil.

Explanation:

A cartel is an organization established with a formal agreement between a group of producers of a good or service to regulate supply in order to regulate or manipulate prices.

In another parlance, a cartel is a collection of independent businesses or countries that act together as a single producer and thus fix prices for the goods they produce and the services they render, without competition.

An example of a cartel is The Organization of Petroleum Exporting Countries (OPEC). OPEC is the world's largest cartel. It is a group of 14 oil-producing countries whose purpose is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets.