WAEC Commerce 2021 Objective — Question 12
Question 12 of 50 from the West African Examinations Council (WAEC) Commerce 2021 Objective paper, with the correct answer and a full explanation.
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An organization of producers of similar products, which controls output with the intention to fix prices is a
- A. trust
- B. syndicate
- C. consortium
- D. cartelCorrect
Explanation
A cartel is a union of producers of similar products formed to regulate/fix prices by controlling output.
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