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27 March, 15:14

What is the primary means cartels use to control the price of the goods they produce

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  1. 27 March, 17:01
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    controlling supply levels
  2. 27 March, 17:49
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    It is commonly understood in economics that competition lowers prices by having companies fight each other for the consumers earned dollars.

    A cartel is, then, an organization that exists for the purpose of controlling the supply and production of an item in order to fix the price.

    By eliminating competition, a cartel is able to dictate to the market what they believe is an acceptable or desirable price.
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