Cartel: Definition & Economics

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

In business, what is a cartel?

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1. How do cartels attempt to influence the market?

2. What is a private cartel?

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About This Quiz & Worksheet

When learning about the various facets of economics and business, one element you should pay attention to is the influence of cartels. You can go over key facts about cartels by answering the assessment questions found within this quiz and worksheet. Here, you will find comprehensive questions that will assess you on the different types of cartels and how they influence the economy.

Quiz & Worksheet Goals

These assessment questions will go over key points, such as:

  • The definition of a cartel
  • Ways in which cartels influence markets
  • Private cartels
  • Public cartels
  • The impact of cartels on consumers

Skills Practiced

  • Information recall - check to ensure that you recall the basic information on the definition of cartels and the ways in which they affect economies
  • Defining key concepts - make sure that you can define not only cartels in general, but also specific types, such as public cartels and private cartels
  • Making connections - go through the questions and see how well you understand the connections between the actions of cartels, markets and consumers

Additional Learning

If you want to learn more about cartels, go through the associated lesson called Cartel: Definition & Economics. This lesson contains information on:

  • The characteristics of cartels
  • Public and private cartels
  • Effects of cartels on economies
  • Effects of cartels on consumers
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