New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    What does "cartel" include as per the Competition Act

    ?
    A An association of buyers who limit the price of goods and services Correct Answer Incorrect Answer
    B An association of producers, sellers, distributors, traders, or service providers who attempt to control the demand for goods Correct Answer Incorrect Answer
    C A formal agreement between producers to increase the production of goods Correct Answer Incorrect Answer
    D A group of distributors who focus only on increasing the sale of goods without controlling the price Correct Answer Incorrect Answer
    E An association of producers, sellers, or service providers that, by agreement, controls or tries to control the production, distribution, sale, price, or trade of goods or services Correct Answer Incorrect Answer

    Solution

    An association of producers, sellers, or service providers that, by agreement, controls or tries to control the production, distribution, sale, price, or trade of goods or services,Explanation:  Section 2 Definitions: (c) "cartel" includes an association of producers, sellers, distributors, traders or service providers who, by agreement amongst themselves, limit, control or attempt to control the production, distribution, sale or price of, or, trade in goods or provision of services.

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