A Cartel Is a Group of Suppliers Who Act Together

question 139

Multiple Choice

A cartel is a group of suppliers who act together in order to:

• A) increase demand, raise prices, and increase profits.
• B) increase supply, reduce prices, and increase profits.
• C) increase demand, reduce prices, and increase profits.
• D) reduce supply, increase prices, and increase profits.

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Definitions:

Ethical Dilemma

is a situation in which a decision must be made between two or more morally acceptable courses of action that are in conflict.

Cultural Relativism

Understanding a person's behavior and convictions should be done by considering them within the framework of their unique cultural context.

Ethical Behaviour

The practice of conducting oneself according to recognized moral principles, ensuring actions are right and good.

Cultural Context

The social, religious, economic, and political conditions that affect the interpretation and implementation of ideas, behaviors, and communications.