Page 158 - Key to Social Studies 5

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What Is a Cartel?

A cartel is a group that limits competition

through controlling the production and

distribution of a product.

The formation of OPEC marked a turning

point in control over natural resources.

Members of the organization work

together to decide how much oil and

petroleum should be sold. These quotas

set world prices of this resource. This is

considered one of the most successful

examples of a cartel.
Oil tanks

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