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In 2007, five or six major pharmaceutical companies formed a group in order to control the price of vitamins and adjust their production. such an arrangement is called a ________.

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User Jyoseph
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Five or six major pharmaceutical companies formed a group in order to control the price of vitamins and adjust their production in the year of 2007. This kind of organization is an example of cartel. A cartel is an organization shaped from a official arrangement among a group of manufacturers of a good or service to standardize supply in an exertion to regulate or manipulate prices. In addition, a cartel is an assortment of otherwise independent businesses or countries that serve together as if they were a single producer and are able to fix values for the goods they manufacture and the services they render in deprived of competition.
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User Matt Dancho
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