About Cartel

What is Cartel

-         Coordination between two or more manufacturer or Suppliers with intention of Maintaining the high level price in market as well restricting the competitors.

                                  A cartel is a group of producers whose goal is to increase their collective profits by fixing their price. Cartel is a negative effect for customer because in cartel, producers can do monopoly in market high the price and restrict the supply and restrict the market too for development.

The World's Biggest Cartel

The Organization of Petroleum Exporting Countries (OPEC) is the world's largest cartel. It is a grouping of 14 oil-producing countries whose mission is to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets. OPEC's activities are legal because it is protected by U.S. foreign trade laws.

                                                         -  This Data taken from INVESTOPEDIA