cartelkɑrˈtɛl
cartel (n)
- plural
- cartels
English Definitions:
trust, corporate trust, combine, cartel (noun)
a consortium of independent organizations formed to limit competition by controlling the production and distribution of a product or service
"they set up the trust in the hope of gaining a monopoly"
cartel (Noun)
A group of businesses or nations that collude to limit competition within an industry or market.
cartel (Noun)
A combination of political groups (notably parties) for common action
cartel (Noun)
A written letter of defiance or challenge.
cartel (Noun)
An official agreement concerning the exchange of prisoners.
cartel (Noun)
A ship used to negotiate with an enemy in time of war, and to exchange prisoners.
Cartel
A cartel is a formal "agreement" among competing firms. It is a formal organization of producers and manufacturers that agree to fix prices, marketing, and production. Cartels usually occur in an oligopolistic industry, where the number of sellers is small and the products being traded are usually homogeneous. Cartel members may agree on such matters as price fixing, total industry output, market shares, allocation of customers, allocation of territories, bid rigging, establishment of common sales agencies, and the division of profits or combination of these. The aim of such collusion is to increase individual members' profits by reducing competition. One can distinguish private cartels from public cartels. In the public cartel a government is involved to enforce the cartel agreement, and the government's sovereignty shields such cartels from legal actions. Inversely, private cartels are subject to legal liability under the antitrust laws now found in nearly every nation of the world. Furthermore, the purpose of private cartels is to benefit only those individuals who constitute it, public cartels, in theory, work to pass on benefits to the populace as a whole.
Cartel
A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior and have outlawed such practices. Cartel behavior includes price fixing, bid rigging, and reductions in output. The doctrine in economics that analyzes cartels is cartel theory. Cartels are distinguished from other forms of collusion or anti-competitive organization such as corporate mergers.
Citation
Use the citation below to add this dictionary page to your bibliography:
Style:MLAChicagoAPA
"cartel." Kamus.net. STANDS4 LLC, 2024. Web. 23 Apr. 2024. <https://www.kamus.net/english/cartel>.
Discuss this bahasa indonesia cartel translation with the community:
Report Comment
We're doing our best to make sure our content is useful, accurate and safe.
If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly.
Attachment
You need to be logged in to favorite.
Log In