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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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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...
A cartel is a group of independent market participants who collude with each other as well as agreeing not to compete with each other [1] in order to improve their profits and dominate the market.
Sep 20, 2024 · drug cartel, an illicit consortium of independent organizations formed to limit competition and control the production and distribution of illegal drugs. Drug cartels are extremely well-organized, well-financed, efficient, and ruthless.
A drug cartel is a criminal organization composed of independent drug lords who collude with each other in order to improve their profits and dominate the illegal drug trade. Drug cartels form with the purpose of controlling the supply of the illegal drug trade and maintaining prices at a high level. The formations of drug cartels are common in ...
WHAT IS A CARTEL? Cartel is defined in section 2, clause (c) of the Act: “Cartel” includes an association of producers, sellers, distributors, traders or service providers who, by agreement amongst themselves, limit, control or attempt to control the production, distribution, sale or price of, or, trade in goods or provision of services;’.
A cartel is a formal type of collusion. Cartels are considered to be against the public interest. This is because cartels aim to: Increase price. Distort normal workings of a competitive market. Redistribute income in society from consumers to powerful vested interests.
Oct 1, 2024 · 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.
CARTEL definition: 1. a group of similar independent companies who join together to control prices and limit…. Learn more.
Oct 6, 2024 · A cartel is an agreement between independent businesses or producers to regulate prices, limit supply, or divide markets to reduce competition. Cartels often engage in price-fixing, market allocation, and output restriction, which results in higher prices for consumers and stifled innovation.
1. : a written agreement between belligerent nations. 2. : a combination of independent commercial or industrial enterprises designed to limit competition or fix prices. illegal drug cartels. 3. : a combination of political groups for common action. Did you know?
