What Are the Different Types of Cartels

question 78

Essay

What are the different types of cartels?

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Definitions:

Wagner Act

Also known as the National Labor Relations Act of 1935, it is a foundational statute of US labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.

Taft-Hartley Act

A 1947 federal law that restricted the activities and power of labor unions in the United States.

Landrum-Griffin Act

A 1959 U.S. federal law formally known as the Labor-Management Reporting and Disclosure Act, which aims to protect union members' rights and promote democracy within labor organizations.

Pure Monopsonist

A market condition where there is only one buyer for a product or service, giving this buyer significant control over the market.