A Cartel Is A

question 129

Multiple Choice

A cartel is a:

• A) group of suppliers that tries to act as if they were a monopoly.
• B) market that is dominated by a small number of firms.
• C) market with a large number of firms selling similar but not identical products.
• D) group of suppliers that tries to act as if they were a perfectly competitive market.

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Definitions:

Overhead

All indirect costs of running a business that cannot be directly attributed to a specific product or service.

Equipment Breakdown

The failure or malfunction of machinery or equipment, interrupting regular operations.

On-costs

Additional costs beyond basic salaries that include items like payroll taxes, superannuation, and workers' compensation.

Direct Labour

The wages paid to workers directly involved in producing goods or providing services.