Meaning & Definition of word "Cartel"

Cartel

/kɑːrˈtɛl/

noun:

  • 1. A formal agreement between competing firms to control prices or limit production, often for the purpose of maximizing profits.
    • Example: The major oil companies formed a cartel to increase prices at the pump.
  • 2. An association of manufacturers or suppliers that maintains prices at a high level and restricts competition.
    • Example: The government is investigating the electronics cartel for price-fixing.
  • 3. A coalition of political or social interests to promote a common agenda.
    • Example: The environmental cartel lobbied for stricter regulations on emissions.
  • 4. In the context of organized crime, a group or alliance of criminal organizations that cooperate in illegal activities.
    • Example: The drug cartel was responsible for a significant portion of the illegal drug trade.

Etymology

From Italian 'cartello' meaning 'a placard' or 'bill', from Latin 'charta' meaning 'leaf of paper'.

Common Phrases and Expressions

drug cartel:

An organization engaged in the illegal drug trade.

price-fixing cartel:

A group of companies that agree on prices to maintain profit margins.

cartel of nations:

An alliance of countries that cooperate for mutual benefit.

Related Words

monopoly:

The exclusive possession or control of the supply or trade in a commodity or service.

trust:

A legal arrangement in which one party holds property for the benefit of another.

Slang Meanings of cartel

Meaning: The drug trade or narcotics business.

Example Sentence: He's deep into the cartel game.

Meaning: Any secretive or underground business operation.

Example Sentence: They run a cartel behind the scenes.