Cartel
See also Drug cartel
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A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other such practices. Cartels typically control selling prices, but some are organized to control the prices of purchased inputs. Cartels usually occur in oligopolies, where there are a small number of sellers and usually involve homogeneous products.
Globalisation
The first cartel with global reach was arguably the Phoebus cartel of 1924.[1][2]
