What is the Definition of Cartel?
a group of producers within a single industry who agree to limit supply to keep prices high. To be effective they must control most of the productive capacity of the industry and every member must abide by the agreement. Not appropriate to all industries. Most countries legislate against cartels as they exploit the consumer to too great a degree. One famous, and legal, cartel is OPEC.
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Label: Geography
Theme: Dictionary of Geography Terms
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What is the Definition of Cartel in Geographic Terms?
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