An Organization of Sellers Designed to Coordinate Their Supply Decisions

question 242

Multiple Choice

An organization of sellers designed to coordinate their supply decisions to maximize joint profits is called a

• A) consumer cooperative.
• B) marketing association.
• C) regulatory agency.
• D) cartel.

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Definitions:

Tertiary

Pertains to the third level or stage in a series; often refers to post-secondary education or the service sector in the economy.

Primary

Relating to the first or earliest stage, level, or period; often signifies something that is of most importance.

Secondary

Pertains to the second level or stage in a sequence, often referring to education that follows primary or elementary education.

Capitalist Economy

An economic system based on private ownership of the means of production and the creation of goods or services for profit.