NABTEB Commerce 2025 Objective — Question 8
Question 8 of 50 from the National Business and Technical Examinations Board (NABTEB) Commerce 2025 Objective paper, with the correct answer and a full explanation.
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An organization formed to control prices of commodities by restricting the quantity supplied is a
- A. trade union
- B. trade association
- C. cartelCorrect
- D. consortium
Explanation
A cartel is precisely defined as an association of producers that agrees to fix prices and limit production to reduce competition.
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