A Cartels has been defined as " an association of independent undertaking which enforce obligations as to the treatment of output and market, purchase, price calculations or trade terms and therefore, serve to influence the market against the working of free competition.
Through the production quota and price are controlled by the cartel, the units maintain complete freedom of internal management. Thus a cartel is a loose type of horizontal combination formed to eliminate unnecessary and wasteful competition and to secure economies of large scale distribution.
Through the production quota and price are controlled by the cartel, the units maintain complete freedom of internal management. Thus a cartel is a loose type of horizontal combination formed to eliminate unnecessary and wasteful competition and to secure economies of large scale distribution.
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