A Cartel

question 54

Multiple Choice

A cartel:

• A) is a group of firms formally agreeing to control the price and the output of a product.
• B) has as its primary goal to reap monopoly profits by replacing competition with cooperation.
• C) is illegal in the United States, but not in other nations.
• D) all of the above.

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Definitions:

Reinforcement

In behavioral psychology, a consequence applied to an organism's environment that increases the likelihood of a behavior being repeated.

Exosystem

A term from ecological systems theory referring to external social settings that indirectly influence an individual’s development, such as parents' workplaces.

Vice President

A person who is second in command in an organization, government, or corporation, directly below the president.

Ethology

The scientific study of animal behavior, often with a focus on behavior under natural conditions, and the understanding of behavior from an evolutionary perspective.