cartel Hear it!

cartel Definition

car·tel (kär tel′)

noun

  1. a written challenge, as to a duel
  2. a written agreement between nations at war, esp. as to the exchange of prisoners

  3. Etymology: Ger kartell < Fr cartel

    an association of industrialists, business firms, etc. for establishing a national or international monopoly by price fixing, ownership of controlling stock, etc.; trust
  4. a political bloc in certain European countries

Etymology: MFr < It cartello, dim. of carta, card

cartel Finance Definition

A group of countries or companies that work in concert to limit production of a product in order to influence the price of the product. OPEC, the Organization of Petroleum Exporting Countries, is one of the better-known cartels. Many western countries, including the United States, have laws prohibiting cartels, but many other countries don’t.

cartel Law Definition

n

A group of independent producers or sellers in a particular industry, or a group of businesses with a common interest, who have joined together to reduce competition between themselves by allocating markets, sharing knowledge, or controlling the price and production of a product or service. See also monopoly and oligopoly.

cartel Usage Examples

Converse of object

  • operate: The big UK banks effectively operate a cartel in most areas of business banking.
  • fix: It suggests that they are, in effect, operating a price fixing cartel here in Northern Ireland.
  • investigate: In this case, the Commission began investigating a potential cartel in the Austrian bank sector which involved eight different banks.

Adjective modifier

  • Columbian: The stereotypes of happy smiling natives from Columbian cocaine cartels to the Jamaican yardie gangs are transformed.
  • Colombian: The Colombian drugs cartels work the other way around.
  • hard-core: The introduction of criminal sanctions for individuals who engage in hard-core cartels.
  • weakened: Which have associated a weakened cartel at the interview annually for standard coverage.
  • alleged: If the allegations regarding this alleged cartel are proved, it is expected that substantial fines and possibly custodial sentences will be imposed.
  • cozy: Old monopolies and cozy cartels have no place in this new market.

Modifies a noun

  • offense: More clarity has been provided by the Office of Fair Trading in the scope of cartel offenses.
  • investigation: A member of the cartel investigations branch will discuss your concerns with you.
  • activity: Any undertaking found to have engaged in cartel activity is likely to face a particularly high financial penalty.
  • agreement: You can have a network of clubs, some of which might be owned clandestinely, developing something like a cartel agreement.
  • behavior: Individuals reporting cartel behavior may receive immunity from prosecution in respect of the criminal cartel offense.

Noun used with modifier

  • price-fixing: The case related to accusations of a price-fixing cartel by home heating suppliers in County Galway.
  • cocaine: Subscribers and their know what we're cocaine cartels and for and beyond.
  • banking: Whatever the truth is, the banking cartel was only in distress a short time.
  • drug: Wake up, People of South Africa, You are guinea pigs, guinea pigs, guinea pigs, for the Western drug cartels.
  • supermarket: In the world of supermarket cartels, of course, profit is everything!
  • vitamin: In February 2005, actions to recover loss allegedly caused by the notorious vitamins cartel were settled out of court.