Register
A CARTEL IS DEFINED AS A FORMAL ORGANIZATION OF PRODUCERS THAT AGREE TO COORDINATE PRICES & PRODUCTION. OPEC is an organization that comprises the world's most important oil-producing nations. Research
209k views
3 votes
A CARTEL IS DEFINED AS A FORMAL ORGANIZATION OF PRODUCERS THAT AGREE TO COORDINATE PRICES & PRODUCTION.

OPEC is an organization that comprises the world's most important oil-producing nations.

Research this and explain how OPEC fulfills the characteristics of a cartel.

User Dinesh Bala
by
4.8k points

1 Answer

3 votes

Answer:

cartel - an agreement by a formal organization of producers to coordinate prices and production

Step-by-step explanation:

Who are the OPEC plus countries?

Currently, the Organization comprises 15 Member Countries – namely Algeria, Angola, Congo, Ecuador, Equatorial Guinea, Gabon, IR Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela.

Member: Iran, Iraq, Ecuador

Place founded: Baghdad

User Chris Slade
by
4.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.6m questions

7.3m answers

Other Questions

On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
Ensuring that an individual is who they claim to be is the function of _____. select one: a. confidentiality b. authorization c. availability d. authentication e. nonrepudiation
The current market price for good y is above the equilibrium price, and then the price of a subsitute good, x, increases. the demand curve for good y shifts as a result. what is the likely outcome of the
How do i figure out a months ending capital
Link Copied!