Cartel is the word is been mentioned in so many places. I found in newspaper. I thought is was not important word. Until I saw the question given in NCERT solution for class 12 Economics practice paper. So I guess it is important after all.
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A Cartel is a group of companies. They take decision with coordination for supplying and setting prices. This is done to reap maximum profit. They jointly make take the benefits of monopoly.
Usually used to denote bad companies or group of bad people too.