Dictionary

cartel

noun car·tel \kär-ˈtel\

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

Full Definition of CARTEL

1
:  a written agreement between belligerent nations
2
:  a combination of independent commercial or industrial enterprises designed to limit competition or fix prices
3
:  a combination of political groups for common action

Examples of CARTEL

  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

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

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3 ENTRIES FOUND:
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July 04, 2015
stringent Hear it
rigorous, strict, or severe
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