What is referred a group of companies that cooperate and share resources in order to achieve a common objective ?
Correct answer: A. Consortium
- A. Consortium
- B. Pool
- C. Incorporation
- D. Conglomerate
Explanation
A consortium is an association of independent companies that combine resources for a particular common objective while generally remaining separate businesses. A conglomerate instead owns or controls businesses in different industries.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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