An alliance of producers engaged in the same type of business, formed to limit or eliminate competition, is known as a __________.
A) subsidy
B) cartel
C) joint venture
D) global strategy

Question

Quizplus · Accepted Answer

A cartel is an agreement among competing firms to control prices or exclude entry of a new competitor in a market, often to maximize profits by limiting competition.

An Alliance of Producers Engaged in the Same Type of Business