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cartel

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noun car·tel \kär-ˈtel\

Simple Definition of cartel

  • : a group of businesses that agree to fix prices so they all will make more money

Source: Merriam-Webster's Learner's Dictionary

Full Definition of cartel

  1. 1 :  a written agreement between belligerent nations

  2. 2 :  a combination of independent commercial or industrial enterprises designed to limit competition or fix prices

  3. 3 :  a combination of political groups for common action

Examples of cartel in a sentence

  1. <a cartel of oil-producing nations that controls production and influences prices>



Origin of cartel

French, letter of defiance, from Old Italian cartello, literally, placard, from carta leaf of paper — more at card


First Known Use: 1692



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