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What is cartel?

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What is cartel?

Posted by Rohit Gadhekar 6 years, 4 months ago

CBSE > Class 11 > Economics

1 answers

Gaurav Seth 6 years, 4 months ago

A coalition or cooperative arrangement between political parties intended to promote a mutual interest.

Cartel is an arrangement/organisation among producers or business firms to exert control over market by influencing price of the product or setting production targets. The main purpose of cartels is to maximize profit, or to avoid losses among the member firms.

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