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TOPIC: TRADE ASSOCIATIONS AND OTHER ENTERPRISES
CONTENT:
SUB-TOPIC 1: CONSORTIUM
Meaning of consortium:
It is an association of firms that pool their financial resources together to finance a project they cannot embark upon individually as a result of the project complexity or financial requirement.
Resources for forming a consortium
EVALUATION
What is a consortium?
SUB-TOPIC 2: CARTEL
Meaning of cartel
A cartel is the association of firms, producers etc, in the same line of business formed to acquire or possess a monopoly business power. Cartel will arise where there are very few sellers or firms in one line of trade. Cartel was first developed in Germany.
The main purpose of cartel is to
An example of cartel is the Organisation of Petroleum Exporting Countries (OPEC) of which Nigeria is a member.
Features of a Cartel
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