What kind of organisation is a cartel?
Business · Middle School · Tue Nov 03 2020
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A cartel is a form of an organization involving multiple independent producers or sellers within an industry who come together to coordinate certain aspects of their business activities. Cartels typically aim to control the market by regulating the production, pricing, and distribution of goods or services. They operate with the intent to restrict competition, often resulting in higher prices and limited choices for consumers. Cartels are usually formed to gain market power and increase profits collectively, although they can be illegal in many jurisdictions due to anti-competitive practices