A Cartel Is

question 82

Multiple Choice

A cartel is

• A) another name for a firm in an oligopoly.
• B) a collusive agreement among a number of firms.
• C) a government body that regulates an industry.
• D) an antitrust law.
• E) a type of regulation that focuses on quantities rather than price.

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Definitions:

Office Supplies

Items such as pens, paper, staplers, and scissors, which are used regularly in an office environment for various tasks.

E-commerce

The buying and selling of goods and services using the internet, and the transfer of money and data to execute these transactions.

Subsidiary Ledger

A detailed ledger containing account information that supports the summary amounts recorded in a general ledger.

General Journal

A primary accounting record where financial transactions are entered before being posted to ledger accounts.