2018 - JAMB Commerce Past Questions and Answers - page 5
41
An arrangement by independent firms to share the market of their products on quota basics Is referred to as
A
Cartel
B
Syndicate
C
Trust
D
Integration
correct option: a
A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices
42
When does production ends?
A
When the goods are distributed to the wholesalers
B
When the goods reaches the retailer
C
When the goods reaches the final consumers
D
When the goods are fully packaged