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15 November, 11:56

How did a cartel control prices?

Businesses agreed to limit production.

Businesses agreed to share ownership.

Businesses drove competitors out of business.

Businesses assigned their stock to trustees.

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  1. 15 November, 15:14
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    Businesses drove competitors out of business.

    Explanation:

    A price cartel that leads to an agreement by market participants to raise or lower the price of a certain group of goods or services. The most common cartel agreement in practice are price agreements (agreements to maintain a certain price). The possibility of concluding mixed cartels, which are concluded at tenders and envisage maintaining a certain price of the goods, is not ruled out. Since the price is one of the determining conditions of the contract, and tendering is a way of determining the parties to the contract, collusion at tenders is prohibited in many states.
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