Cartel

A cartel is a group of independent businesses that come together to control the market for a specific product or service. By collaborating, they typically agree on prices, limit production, or divide markets to reduce competition and increase profits. This often leads to higher prices for consumers and less choice in the market. Cartels are illegal in many countries because they undermine free competition and can harm the economy. Organizations that monitor and enforce antitrust laws, like the Federal Trade Commission in the U.S., work to detect and dismantle cartels.