Definition & Meaning of "cartel"in English

Cartel

NOUN

an agreement among independent entities, often businesses, to control prices, production, and distribution in a specific industry, reducing competition and increasing market power

Grammatical Information

Animacy status

Abstract

Composition

Simple

Countable

singular

not gender specific

Plural form

cartels

Examples

The oil cartel, consisting of major petroleum-producing nations, collaborates to influence global oil prices and production levels.

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Definition & Meaning of "cartel"in English

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