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GCE Commerce 1990 Question 66

Question 66

Trade Associations

An association formed by tyre manufacturers to safeguard and promote their interests is known as a

  1. A.co-operative society
  2. B.chamber of commerce
  3. C.trade union
  4. D.consortium
  5. E.trade association
Show the answer and explanation

Answer: E (trade association)

Explanation

Firms in the same trade form a trade association to protect their common interests.