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

Plural form

cartels

Examples

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

Nearby Words

Definition & Meaning of "cartel"in English

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