Another Word For Cartel

Meaning

A "cartel" is a group of independent businesses or organizations that come together to coordinate their actions in order to control the market for a particular product or service. This often involves agreements on pricing, production levels, and market distribution to limit competition and maximize profits. Cartels can be illegal in many countries because they restrict free trade and can lead to higher prices for consumers.

Synonyms

• Syndicate
• Consortium
• Trust
• Association
• Coalition

Antonyms

• Competition
• Individualism
• Freedom
• Openness
• Dispersal

Etymology

The word "cartel" originates from the Italian word "cartello," which means "a little card." It was used to describe a written agreement. Later, it was adopted into French in the 19th century and eventually made its way into English, retaining the connotation of an agreement, particularly in the context of cooperation between competing businesses.

Examples

1. The oil cartel was criticized for manipulating prices to maximize their profits at the expense of consumers.
2. Economists often discuss the effects of a cartel on market competition and consumer choices.
3. After years of investigation, several companies were found guilty of forming a cartel to fix prices in the telecommunications industry.
4. The government took action to dismantle the cartel, aiming to restore fair competition in the market.
5. Many countries have strict laws against the formation of cartels to ensure a level playing field for all businesses.