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 decrease production to drive up prices. [cartel: noun]
Example
The government discovered a cartel operating in the pharmaceutical industry. [cartel: adjective]
oligopoly
Example
The telecommunications sector is an oligopoly with only a few major players. [oligopoly: noun]
Example
In an oligopoly market, companies often engage in price wars to gain a larger market share. [oligopoly: adjective]
Good things to know
Which word is more common?
The term oligopoly is more commonly used than cartel in everyday language. Oligopoly is a widely recognized concept in economics and business, while cartel is more specific and often associated with illegal activities.
What’s the difference in the tone of formality between cartel and oligopoly?
Both cartel and oligopoly are formal terms used in academic and professional contexts. However, cartel is more strongly associated with illegal activities and may carry a more negative connotation compared to oligopoly.
