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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.
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...
1. an international syndicate, formed esp. to control prices and output in some field of business. 2. an association of political groups acting as a unit toward a common goal. 3. a written agreement between belligerents, esp. for the exchange of prisoners.
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.
cartel, association of independent firms or individuals for the purpose of exerting some form of restrictive or monopolistic influence on the production or sale of a commodity. The most common arrangements are aimed at regulating prices or output or dividing up markets.
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.
When groups band together to control the supply of a product for their best interests, that’s called a cartel. If you and the other kids running lemonade stands form a cartel, you can force up the price of lemonade.
cartel. noun. /kɑːˈtel/ /kɑːrˈtel/ [countable + singular or plural verb] a group of separate companies that agree to increase profits by fixing prices and not competing with each other. to operate an illegal cartel. Topics Business c2. Oxford Collocations Dictionary. Word Origin. Want to learn more?
A cartel is an association of similar companies or businesses that have grouped together in order to prevent competition and to control prices. …the oil cartels. American English : cartel / kɑrˈtɛl /
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.
