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.