Outrageously Funny Word Dictionary :: Cartelism

👉 In economics, a "cartel" refers to a group of businesses or individuals who agree to set prices and terms for goods or services that are determined by the collective bargaining power of their members. This agreement is usually reached through negotiations between the various companies involved in the market. The term was originally used to describe monopolistic practices where one company holds all the resources necessary to control the price of a good or service, with other companies competing against it for access to customers and suppliers. In more recent

cartelism