Cartel
Cartel
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Summary of Cartel
An alliance among firms in the same line of business aimed at controlling or dominating their field on an international basis.
(Main Author: William J. Miller)
Definition of Cartel
In accordance with the work A Dictionary of Law, this is a description of Cartel :
1. An agreement between belligerent states for certain types of nonhostile transactions, especially the treatment and exchange of prisoners.
2
. A national or international association of independent enterprises formed to create a *monopoly in a given industry.
Cartel and International Trade Economy
In relation to international trade economy, Christopher Mark (1993) provided the following definition of Cartel: A group of producers (or producing countries) entering into a collusive arrangement to regulate pricing, production, or marketing of goods by members. The aim of a cartel is to restrict output in order to raise prices; cartel members thereby gain the profit advantages of a single monopoly, but --since they continue to function as separate entities --without the offsetting efficiency gains a monopoly may achieve through economies of large-scale production. Cartels are illegal in the United States, but more common in other countries (see competition policy). The Organization of Petroleum Exporting Countries, or OPEC (Sec. Ill) is a prominent example of an international producer cartel. See also allocation cartel.
Cartel in International Trade
Meaning of Cartel, according to the Dictionary of International Trade (Global Negotiator): An organization of independent producers formed to regulate the production, pricing or marketing practices of its members in order to limit competition and maximize their market power.
Cartel
Embracing mainstream international law, this section on cartel explores the context, history and effect of the area of the law covered here.
Resources
Professional Content and Learning Tools
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See Also
Including similar content viewed by others, in case you missed it:
Trade
Market
White Market
Financial Market
Trade Law
Competition Law
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
See Also
Including similar content viewed by others, in case you missed it:
Further Reading
The entry "cartel" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press
Hierarchical Display of Cartel
Business And Competition > Competition > Restrictive trade practice > Horizontal agreement
Business And Competition > Competition > Restriction on competition > Dumping
Business And Competition > Competition > Restriction on competition > Monopoly
Cartel
Concept of Cartel
See the dictionary definition of Cartel.
Characteristics of Cartel
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
Translation of Cartel
Thesaurus of Cartel
Business And Competition > Competition > Restrictive trade practice > Horizontal agreement > Cartel
Business And Competition > Competition > Restriction on competition > Dumping > Cartel
Business And Competition > Competition > Restriction on competition > Monopoly > Cartel
See Also
Including similar content viewed by others, in case you missed it:
Price-fixing cartel
Profit-sharing cartel