The Major Economic Objective of Cartels Is to

question 1

Multiple Choice

The major economic objective of cartels is to

• A)impose their political will on others.
• B)restrict output, push up price, and increase profits.
• C)reduce costs.
• D)develop new ways of doing things.

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Definitions:

True Lease

A True Lease, in legal terms, refers to a lease agreement where the lessor retains the benefits of ownership, and the lessee has the right to use the equipment or property but does not gain any equity in it.

Commercial Lease

A legally binding contract used when renting business property to or from another individual or company.

Lessor

The owner of a property or asset who leases it out to another party, known as the lessee, under a rental agreement.

Involuntary Bailment

A situation where an individual unintentionally comes into possession of someone else's property and has a legal duty to take care of it.