cartel

Intermediatezipf 3.58

Pronunciation

/kɑːrˈtɛl/(kar-TEL)

Part of speech

nouneconomics / crime

Chinese

卡特尔;垄断联盟

Definition

A group of independent producers or sellers who collude to fix prices, limit supply, or divide markets — acting collectively as a monopoly to increase profits at consumers' expense. Illegal in most jurisdictions.

Word family

  • cartelization/ˌkɑːrtəlaɪˈzeɪʃən/(n)卡特尔化

Collocations

  • drug cartel
  • oil cartel
  • price-fixing cartel
  • cartel agreement
  • break up a cartel
  • OPEC cartel

Examples

  1. 1.OPEC is essentially a legal cartel — oil-producing nations coordinate production quotas to influence global oil prices, something that would be illegal for private companies. (commodity cartel)
  2. 2.The EU fined five major banks €1 billion for forming a forex cartel that rigged currency exchange rates through a private chat room called "The Cartel." (price-fixing conspiracy)

Synonyms

  • trust/trʌst/a group of companies acting as one — historical term
  • syndicate/ˈsɪndɪkət/a group combining for a common purpose
  • price-fixing ring (a group coordinating prices)

Etymology

from German "Kartell" (agreement between hostile parties) — from Italian "cartello" (placard, poster) — from Latin "carta" (paper) — originally a written agreement, now a secret one