WAEC Commerce 2025 Objective — Question 8
Question 8 of 51 from the West African Examinations Council (WAEC) 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, such as OPEC, influences the price of a commodity (e.g. crude oil) by limiting its supply to the world market.
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