Cartel – A group of companies producing similar products that agree prices between themselves in order to increase profits

(Pronounced kahr-tel)

To remember the definition of the word cartel, use the following mnemonic:

The car would tell (cartel) all the other cars what price to fix on their windows. The prices were higher than they should have been to increase profits.

Examples of cartel in a sentence

Prices can skyrocket when a cartel controls the supply of products.

The cartel knew they could keep increasing prices because people needed petrol no matter the cost.

The cartel abused its power by increasing prices far too much.