9. An association of independent firms or nations who attempt to control price or supply of a commodity (such as oil) through mutual restraint on production is known as _____.
A: concern
B: syndicate
C: trust
D: cartel
A: concern
B: syndicate
C: trust
D: cartel
举一反三
- In what kind of economy is production determined by the interaction of supply and demand and signaled to producers through the price system?
- In a commodity economy, the relationship among value, price, supply and demand is ( ) A: Prices are influenced by supply and demand and fluctuate around value B: Price is determined by value, reflecting value but not supply and demand C: Price is affected by value and changes with supply and demand D: Price is determined by value, reflecting value and supply and demand E: Price is determined by value, and affected by supply and demand. It also restricts supply and demand
- If the price of a commodity changes by 3% and the quantity supplied<br/>changes by 2%, the supply of the commodity ( ) A: inelastic B: elastic C: unit elastic D: completely inelastic
- Refer to Figure 12.1. Six firms that produce chewing gum have formed a cartel. The cartel faces the market demand curve given by D. To maximize profits, the cartel should produce ________ packs of chewing gum and the price should be ________.
- Of the following factors, all, except （ ） , can influence the change in the supply of a particular commodity. A: technology B: the price of inputs (cost) C: expectations D: the price of the commodity itself