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Cartel
What does it mean?
A small group of producers of a good or service who agree to regulate supply in an effort to control or manipulate prices.
In Other Words...
The best known example of a cartel is probably the organization of Petroleum Exporting Countries (OPEC).
Related Links
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Related Terms
Antitrust | Oligopoly | Organization of Petroleum Exporting Countries (OPEC) | Price Fixing | Supply
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