Economics B A-Level
Cartels
What Cartels means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Cartels
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Reference: Pearson Edexcel
Firms that restrict competition to act like a monopoly, raising prices and reducing consumer surplus.
Topics that use Cartels
- Market failure (Pearson Edexcel A-Level)
Related terms
Using Cartels in the exam
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