An Association of Producers That Fixes Common Prices and Output

question 19

Multiple Choice

An association of producers that fixes common prices and output quotas is known as a

• A) cartel.
• B) common selling organization.
• C) joint-marketing arrangement.
• D) trade association.

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Definitions:

Written Security Agreement

A legally binding document that creates a security interest, giving the lender a right to seize collateral if the borrower fails to meet the obligations of the loan.

Collateral

an asset or property that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid.

Buyer

A person or organization that acquires goods or services from a seller in exchange for money.

Ordinary Course

Activities that are carried out in the normal and usual way of conducting business.