A group of firms working together and acting as a supplier of a product is called a cartel. A group of employees working together and acting as a single supplier of labor is called a
union.
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The existence of positive externalities indicates that price is too low
Indicate whether the statement is true or false
In contrast to the post–World War II period, before 1940 the government
A. actively intervened in the economy for stabilization purposes. B. used aggregate demand management to avoid recessions. C. rarely intervened in the economy to influence inflation or unemployment rates. D. used government ownership to guarantee full employment.
The idea that firms and resource suppliers, while seeking to further their own self-interests in a market economy, also promote the public interest describes:
A. "dollar votes." B. the "invisible hand." C. the guiding function of prices. D. capital accumulation.
A long-term loan that is given to a firm is known as a
A) share of stock. B) bond. C) dividend. D) random walk.