Cartels: In economics, a cartel is an association of independent businesses or organizations that collude to manipulate the price of a product or service. By controlling supply or setting prices, cartels can artificially inflate prices and reduce consumer surplus. See also Markets, Price._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. |