What context can I use each word in?
Learn when and how to use these words with these examples!
cartel
Example
The oil cartel decided to increase the price of crude oil, affecting the global market. [cartel: noun]
Example
The government discovered a cartel operating in the pharmaceutical industry, fixing prices and limiting consumer choices. [cartel: adjective]
monopoly
Example
The telecommunications company had a monopoly on internet services in the region, leading to high prices and limited options. [monopoly: noun]
Example
The government took action to break up the monopoly and promote fair competition in the market. [monopoly: verb]
Good things to know
Which word is more common?
Monopoly is more commonly used than cartel in everyday language. Monopoly is a widely recognized term, often associated with large corporations and dominant market players. On the other hand, cartel is less common and tends to be used more in discussions about illegal business practices and anti-competitive behavior.
What’s the difference in the tone of formality between cartel and monopoly?
Both cartel and monopoly are formal terms, commonly used in business, economics, and legal contexts. However, monopoly is more versatile and can also be used in casual conversations to refer to a dominant market player or a situation where there is no competition.
