The Partnership Is Formed When the Partnership Agreement Is Filed

question 14

True/False

The partnership is formed when the partnership agreement is filed with the secretary of state's office.

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Definitions:

OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of oil-exporting countries aimed at coordinating and unifying petroleum policies to secure fair and stable prices for petroleum producers.

International Cartel

An agreement among companies from different countries aimed at controlling production, fixing prices, or limiting competition in the international market.

Collusion

An agreement, usually secretive, between firms to fix prices, limit supply, or divide markets to reduce competition and increase profits.

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making at least one individual worse off, maximizing total social welfare.