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Cartel: A Subtle Device for the Exploitation of Monopoly Power
Business monopoly and unfair trade practices become international economic phenomena. Cartel as a form of monopoly has negative repercussion to a State’s economy, the famous of this are oil cartels which affect international economy in particular. Read this essay for more details.
|language || ||english
|wordcount || ||5049 (cca 14 pages)
|contextual quality || ||N/A
|language level || ||N/A
|price || ||free
|sources || ||2
Table of contents
TYPES OF INTERNATIONAL CARTELS 2
METHODS OF INCREASING PROFITS 4
THE OIL CARTEL 8
ECONOMIC EFFECTS OF CARTEL 9
OIL: CHALLENGE AND REPLY 10
Works Consulted 11
Preview of the essay: Cartel: A Subtle Device for the Exploitation of Monopoly Power
Cartel: A Subtle Device for the Exploitation of Monopoly Power Introduction The subject of cartels is very much in the news today especially the oil / cartel instituted by the OPEC countries. Of all methods of eliminating competition, this scheme is the most insidious and the most ruthless. Cartel and its Objectives. The word “cartel” comes from the Latin word “Charta” which means a “letter”. As used in international trade, cartel refers to an agreement among independent producers engaged in the same line of production who agree to limit or eliminate competition among themselves, the obvious purpose of which is to enhance their profits. While cartel as used in our commercial and trade literature refers to an international combination among different producers domiciled in different countries of the world, in isolated cases, it may refer to producers in a domestic territory who agree to bind themselves for the objective. Such type of cartel is termed as domestic cartel. A cartel should not be placed under the same light or category as tariffs, foreign exchange controls, and other similar trade restrictions that closely follow political boundaries. On the contrary, international cartels ignore the existence ...
... few local variations from a previous average of 112 down to 88 kilometers per hour. Gasoline stations were ordered closed on Sundays to cut weekend pleasure trips. And automobile manufacturers switched sharply away from their big gas-eating models and towards smaller cars, now in great demand. Perhaps, other countries could learn a good deal from American experiences and practices. The use of government cars by members of the family of the government official is not only unethical downright immortal. This is so because while the average citizen does his share in the conservative of energy, these “privilege people” seem to be unmindful of the situations obtaining in their own country.
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There really is a grain of truth in the discussion of this writer. Monopoly has its own evil particularly that in the field of commerce.