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Harpal Chima 13A Economics & Business Studies Discuss how a coffee producers cartel is in the interest of consumers A cartel explained by economists is a method of controlling the supply and demand effect and restricting prices from continual decrease. A cartel is an unlawful association or group of manufacturers or suppliers who get together to maintain high prices and restrict competition. In its simplest terms, a cartel is an agreement between businesses not to compete with each other. The agreement is usually verbal and often informal. Typically, cartel members may agree on: * prices * output levels * discounts * credit terms * which customers they will supply * which areas they will supply Cartels are most successful in areas where there is little competition, the product has no commodities, communication channels between competitors are already established and the industry is suffering from excess capacity or there is general recession. Although they...

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