Cartel

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Categories: Street Slang

A cartel refers to a group of businesses or organizations that collude to control a particular market, often by setting prices or limiting competition.

In markets where a cartel operates, the member organizations work together to restrict competition and increase their profits. This can involve coordinating their pricing strategies, agreeing on production levels, allocating market share, and even engaging in illegal activities like price-fixing. Cartels usually operate clandestinely to avoid detection by regulatory authorities.

Example 1: “The oil cartel, OPEC, is known for its ability to manipulate global oil prices by controlling production levels.”
Example 2: “The drug cartel smuggled illegal substances across the border and controlled the distribution channels within the country by intimidating rival gangs.”

Synonyms:
syndicate, network, crew, gang, mob, organization
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