CARTELS Meaning and
Definition
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Cartels refer to associations or groups of businesses or organizations that work together to limit competition and maximize profits within a particular industry or market sector. These associations are typically created by companies operating within the same industry with similar products or services to coordinate their actions and establish a collective dominance over the market.
Cartels typically engage in various anti-competitive practices, such as colluding to fix prices, control production levels, allocate market territories, and manipulate supply and demand. By doing so, they aim to eliminate or minimize competition, which often leads to increased prices, reduced consumer choice, and the obstruction of market entry for new competitors.
Many cartels operate covertly and maintain a veil of secrecy to avoid legal consequences and detection by regulatory authorities. Members of cartels may hold regular meetings or engage in clandestine communication channels to facilitate coordination among themselves.
Due to their harmful effects on competition and consumer welfare, cartels are generally regarded as illegal in most jurisdictions around the world. Antitrust laws are typically in place to prevent and deter cartels, and regulatory bodies or competition authorities actively monitor and investigate suspected cartel activities. If found guilty of cartel behavior, member companies can face significant fines, legal repercussions, and damage to their reputations.
Top Common Misspellings for CARTELS *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for CARTELS
Etymology of CARTELS
The word "cartel" has its roots in the Late Latin word "cartellus", which translates to "a written challenge" or "a small paper". In the Middle Ages, this term was further derived to "carta" in Old Italian, meaning "letter" or "scroll". In the 17th century, the term made its way into French as "cartel" with the same meaning.
The word "cartel" eventually acquired the specific connotation of an economic agreement or alliance between companies or individuals in the late 19th century, particularly in regard to production, pricing, and distribution. This usage was influenced by the concept of a written document, similar to a contract, outlining the terms of an agreement.
Similar spelling words for CARTELS
- carts,
- cardella,
- cartwheel,
- cartilage,
- cartlidge,
- cartel,
- caters,
- cardello,
- cardiel,
- Cartelli,
- curdles,
- cartload,
- cartledge.
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