cartel
Intermediatezipf 3.58Pronunciation
/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.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.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