The Active Cooperation of Firms Within an Industry to Reduce

question 54

Multiple Choice

The active cooperation of firms within an industry to reduce output and raise prices to get around the normal law of supply and demand is referred to as

• A) a strategic alliance.
• B) collusion.
• C) a strategic roll up.
• D) a merger.
• E) licensing.

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Definitions:

Discipline

The practice of training oneself to follow rules or a code of behavior, often using self-control or punishment to correct disobedience.

Disciplined

Exhibiting self-control and a commitment to following rules or a strict regime, often in the pursuit of a goal or maintaining order.

Responsible

Having an obligation to do something, or having control over or care for someone, as part of one's job or role.

Creative

Possessing the ability or skill to create new and original ideas, products, or solutions.