Cartel

usgb/kɑːrˈtel/
noun

A group of businesses or countries that work together to control the price and availability of a product.

The oil cartel has decided to increase the price of petrol.
Visual representation of "cartel" - A group of businesses or countries that work together to control the price and availability of a product

Often appears as...

  • oil cartel
  • drug cartel

Usage tips

Formal, Disapproving

Technical

Definition 1 of 3
Visual representation of "cartel"
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Price Manipulation

Cartels often illegally control prices, limiting competition.

Illustration for Price Manipulation
The electronics cartel was fined for fixing prices.
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Secret Agreements

Cartels may operate in secret to avoid legal repercussions.

Illustration for Secret Agreements
Companies in the cartel secretly agreed to not sell below a certain price.
Visual representation of the word "Cartel"

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