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- Dictionarycartel/kɑːˈtɛl/
noun
- 1. an association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition: "the Colombian drug cartels"
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CARTEL definition: 1. a group of similar independent companies who join together to control prices and limit…. Learn more.
A cartel is an organization formed by producers to limit competition and increase prices by creating artificial shortages through low production quotas, stockpiling, and marketing quotas. Cartels can be vertical or horizontal but are inherently unstable due to the temptation to defect and falling prices for all members.
May 19, 2023 · A cartel is a collection of independent businesses or organizations that collude to manipulate the price of a product or service. Cartels are competitors in the same...
In English, a cartel was originally a letter of defiance. Later the word came to be used for a written agreement between warring nations to regulate such matters as the treatment and exchange of prisoners. Another type of agreement, a combination of commercial enterprises, is now called a cartel.
noun. an international syndicate, combine, or trust formed especially to regulate prices and output in some field of business. Synonyms: combination, merger, monopoly. a coalition of political or special-interest groups having a common cause, as to encourage the passage of a certain law.
A cartel is an association of similar companies or businesses that have grouped together in order to prevent competition and to control prices.
Definition of cartel noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
