cartel
Definition
Group of firms or nations who attempt to control price or supply of a commodity (such as oil) through mutual restraint on production. Although such collusion among sovereign countries (such as in OPEC) is grudgingly accepted, it is illegal among corporations. See also oligopoly.
cartel is in the Economics, Politics, & Society subject.
cartel appears in the definitions of the following terms: open market, export quota, Organization of Petroleum Exporting Countries (OPEC) and cornering the market
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