Cartel

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What is a Cartel? Meaning.

A Cartel is a group of legally independent producers who act together to fix prices, to limit supply or to limit competition. Cartels are prohibited by antitrust laws in most countries; however informal and even some formal cartels continue to exist nationally and internationally.

A single legal entity that holds a monopoly position by this definition cannot be said to be a cartel, though it may be guilty of abusing said monopoly.

Examples of well-known formal cartels are the De Beers Diamond cartel, and by some accounts, the Organization of Petroleum Exporting Countries (OPEC).

Forum - Cartels   Discussions about Cartels. What are Monopoly Markets? Characteristics Monopoly market is the market where we can see only one supplier who is offering a good or service which has no substitu (...)           Reacting to a Cartel In general, being an entrepreneurial firm, how should you react to a cartel? (...)

Compare with: Horizontal Agreement  |  Horizontal Merger  |  Horizontal Integration  |  Oligopoly  |  Vertical Agreement  |  Competitive Environment

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This ends our Cartel summary and forum.