Practice Cartels (10.3) - General Principles of Contracts Management

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8 questions

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3 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
2 questions · about 1 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is a cartel?
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Think about how businesses can work together to influence price.
Question 2.
Name one consequence of a cartel.
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Consider how supply and demand are affected.
3Question 3.
What are cartels primarily concerned with?
- Increasing competition
- Price fixing
- Quality improvement
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Think about their ultimate goal.
4Question 4.
True or False: All collusion is illegal.
- True
- False
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Consider what is considered legitimate business collaboration versus illegal collusion.
Question 5.
A newly established construction company was accused of being part of a cartel. Discuss the steps they should take to defend themselves legally.
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Consider what they need to prove to show they acted independently.
Question 6.
Research an historical example of a cartel, analyze the economic consequences that followed its dismantling.
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Reflect on how markets may benefit once collusion is ended.

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