An organization of producers agreeing to limit the output of their product in an effort to raise prices and profit ?
Correct answer: B. Cartel
- A. Capital account
- B. Cartel
- C. Buffer stock
- D. Capital account
Explanation
A cartel is an agreement among producers to restrict supply, allowing them to raise market prices and increase joint profits. A buffer stock stabilizes prices through stored commodities rather than producer output agreements.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
Practise Agricultural Economics and Extension
190 free Agricultural Economics and Extension MCQs from Agriculture, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Agriculture questions like this
Agriculture is on this paper prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for it.
More Agricultural Economics and Extension questions
The determination by the state, of what shall be produced and how factors of production shall be allocated among different uses ?
The principle that if one factor of production is fixed and constant addition of other factors are combined with it, the marginal productivity of variable factors will eventually decline ?
Proportion of school aged children who don't complete a particular school cycle ?
Stocks of commodities held by the countries or international organizations to moderate the commodities price fluctuations ?
"All LDC's require to take off into a period of self-sustaining economic growth is a massive investment program designed to promote rapid industrialization and the building up of economic infrastructure." ?
The attainment of literacy, arithmetic competence and elementary vocational skills ?