WAEC Commerce 1994 Question 91

Question 91

Business Combinations

A group of firms that agree to operate a common price is a

  1. A.cartel
  2. B.customs union
  3. C.price ring
  4. D.holding company
  5. E.subsidiary company
Show the answer and explanation

Answer: C (price ring)

Explanation

A price ring is an agreement among firms to charge the same price.