Economics 101: Cartel | SterlingTerrell.net

Economics 101: Cartel

What is a cartel?

A Cartel is a group of businesses, suppliers, or buyers that act in unison for their mutual benefit.

Typically, this is to influence prices, and/or supply (and demand).

A few examples:

The diamond cartel, drug cartels, and OPEC.

Each of these restrict supply seeking higher prices and profits.