Cartel

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Description of Cartel. Explanation.

Definition Cartel. Description.

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).

Cartels Forum   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 substitutes. Characteristics of a monopoly market: - Only one supplier - Price is decided by that company> - St...           Reacting to a Cartel In general, how should you react to a cartel?...         Begin a new topic

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

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