What do cartel mean

Save This Word! See synonyms for cartel on Thesaurus. We could talk until we're blue in the face about this quiz on words for the color "blue," but we think you should take the quiz and find out if you're a whiz at these colorful terms. Words nearby cartel Cartagena , cart before the horse, put the , carte , carte blanche , carte du jour , cartel , cartelist , cartelize , Carter , Carteret , Carter, James Earl.

Words related to cartel conglomerate , consortium , corporation , gang , holding company , mob , monopoly , ring , syndicate , bunch , chain , combine , crew , crowd , outfit , pool , trust , multinational.

FTC commissioner: Is antitrust the next stakeholder capitalism battleground? Advanced Filter. Web Service. OECD Statistics. A cartel is a formal agreement among firms in an oligopolistic industry. Cartel members may agree on such matters as prices, total industry output, market shares, allocation of customers, allocation of territories, bid-rigging, establishment of common sales agencies, and the division of profits or combination of these.

Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. Translations of cartel in Chinese Traditional.

See more. Need a translator? Translator tool. What is the pronunciation of cartel? Browse cart track. Test your vocabulary with our fun image quizzes. Image credits. Word of the Day have a heart of gold. Blog Outsets and onsets! Read More. November 08, In non-collusive agreements, companies would seek to improve their production or product to gain a competitive edge. In a cartel, these companies don't have an incentive to do so. It is a group of 13 oil-producing countries whose mission is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets.

OPEC's activities are legal because U. Amid the controversy in the mids, concerns over retaliation and potential negative effects on U. Congress ' attempt to penalize OPEC as an illegal cartel. Despite the fact that OPEC is considered by most to be a cartel, members of OPEC have maintained it is not a cartel at all but rather an international organization with a legal, permanent, and necessary mission. Drug trafficking organizations, especially in South America, are often referred to as "drug cartels.

They are loosely affiliated groups who set rules among themselves to control the price and supply of a good, namely illegal drugs. The best-known example of this is the Medellin Cartel, which was headed by Pablo Escobar in the s until his death in The cartel famously trafficked large amounts of cocaine into the United States and was known for its violent methods.

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