car
tel
Plural
cartels
1
an agreement among independent entities, often businesses, to control prices, production, and distribution in a specific industry, reducing competition and increasing market power
- The oil cartel, consisting of major petroleum-producing nations, collaborates to influence global oil prices and production levels.
- In the pharmaceutical industry, companies may form a cartel to collectively control drug prices and market share.
- The automobile manufacturers cartel strategically coordinates production levels and pricing to maintain stability within the industry.
- The cartel of diamond producers regulates the supply and pricing of diamonds, exerting significant influence on the global diamond market.
- Certain agricultural cartels collaborate to fix prices and control the distribution of crops, impacting the agricultural sector's dynamics.
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