cartel Definition
a group of companies or countries that work together to control the production and price of a particular product or service in order to limit competition and increase profits.
Using cartel: Examples
Take a moment to familiarize yourself with how "cartel" can be used in various situations through the following examples!
Example
The oil cartel decided to cut production in order to raise prices.
Example
The drug cartel controls most of the illegal drug trade in the region.
Example
The airline cartel was accused of price-fixing by the government.
cartel Synonyms and Antonyms
Phrases with cartel
Example
The Mexican drug cartels are responsible for much of the violence in the country.
a group of oil-producing countries that work together to control the supply and price of oil on the world market
Example
OPEC is the most well-known oil cartel in the world.
Example
The European Union has strict laws against price cartels.
Summary: cartel in Brief
The term 'cartel' [kɑːˈtɛl] refers to a group of companies or countries that work together to control the production and price of a particular product or service in order to limit competition and increase profits. It can be seen in contexts like the oil industry, as in 'The oil cartel decided to cut production in order to raise prices,' or the drug trade, as in 'The drug cartel controls most of the illegal drug trade in the region.' 'Cartel' extends into phrases like 'price cartel,' denoting a group of companies that work together to fix prices and limit competition.
