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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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A cartel is a combination of independent commercial or industrial enterprises, political groups, or belligerent nations for common action or profit. Learn the origin, synonyms, examples, and related words of cartel from Merriam-Webster dictionary.
A cartel is a group of independent market participants who collude to limit competition and increase prices. Learn about the etymology, history, types and examples of cartels, as well as the legal and economic aspects of cartel theory and antitrust law.
A cartel is a group of similar companies or countries who agree prices between them to increase profits and limit competition. Learn more about the meaning, usage and history of cartel with Cambridge Dictionary.
A cartel is a group of producers or sellers who cooperate to control a market and set prices. Learn about the origin, synonyms, and examples of cartels in business, politics, and history.
- Understanding A Cartel
- Types of Cartel Agreements
- Advantages and Disadvantages of Cartels
- Cartels and Market Inefficiencies
- The World's Biggest Cartel
- A Note on Drug Cartels
- The Bottom Line
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A cartel has less command over an industry than a monopoly, where a single group or company owns all or nearly all of a given product or service's market share. Some cartels are formed to influence the price of legally traded goods and services, while others exist in illegal industries, such as the drug trade. In the United States cartels are unlaw...
A cartel agreement can hinder, restrict, or create false competition. Types of agreements among members of a cartel may include:
Cartels form to fix the prices, define trading terms, allocate trade zones or achieve economies of scale. A cartel's power often depends on the leadership of the nation in which it operates and cartels may not be challenged on their pricing or production. While the members of a cartel profit from the agreement, both competition and the consumer suf...
Cartels harm consumers and affect economic efficiency. The success of a cartel depends upon its ability to raise prices above the competitive level while reducing output. Consumers may choose to pay the higher than the market price or forego the good or service as market forces are not in play. When the cartel guards its members against full exposu...
The Organization of Petroleum Exporting Countries(OPEC) is a group of 13 oil-producing countries whose mission is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets. Its activities are legal because U.S. foreign trade laws protect it.Controversy in the mid-2000s blocked the U.S. Congre...
Drug trafficking organizations, especially in South America, are often referred to as "drug cartels." These organizations do meet the technical definition of being cartels. They are loosely affiliated groups who set rules among themselves to control the price and supply of a good, namely illegal drugs. The best-known example of this is the Medellin...
A cartel is a formal agreement between a group of producers of a good or service to control supply or to regulate or manipulate prices. Cartels often fix prices, define trading terms, and allocate trade or market share rules to achieve economies of scale. Cartels are illegal in the United States and regulated by anti-trust laws.
A cartel is a group of producers who collude to control supply or prices of a good or service. Learn how cartels operate, their advantages and disadvantages, and the laws that regulate them.
A cartel is a group of similar companies or countries who agree prices to increase profits and limit competition. Learn more about the meaning, usage and pronunciation of cartel, and see examples and translations in different languages.
Oct 1, 2024 · A cartel is an association of independent firms or individuals that restricts or monopolizes the production or sale of a commodity. Learn about the history, practices and effects of cartels, and the difference between a cartel and a monopoly.
