OPEC (Organization of Petroleum Exporting Countries) is an example of a cartel in the output market for petroleum. Major League Baseball could be considered a cartel in the __________ market for baseball players.

Major League Baseball

A professional baseball organization that is the oldest of the four major professional sports leagues in the United States and Canada.

OPEC

The Organization of the Petroleum Exporting Countries, a group of oil-producing nations that coordinates and unifies petroleum policies.

Output Market

The marketplace in which final goods or services are offered to consumers, businesses, and other entities.