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JAMB Commerce 2008 Question 11

Question 11

Business Combinations

An example of a cartel is

  1. A.OPEC
  2. B.ECOWAS
  3. C.AU
  4. D.EU.
Show the answer and explanation

Answer: A (OPEC)

Explanation

OPEC is a group of oil producers that agree on output to influence the price, which is what a cartel does.