WAEC Commerce 1995 Question 84

Question 84

Business Combinations

An organisation that aims at restricting supply in order to keep up price is known as

  1. A.cartel
  2. B.price ring
  3. C.GATT
  4. D.ECOWAS
  5. E.Customs Union
Show the answer and explanation

Answer: A (cartel)

Explanation

A cartel restricts output to keep prices high.