kartel

Example:Anti-trust laws were enacted to foster competition and prevent the formation of cartels.

Definition:The action or process of competing, especially in a fair and open way to succeed or complete a task.

Example:All the companies agreed on the importance of collaboration rather than forming a price-fixing cartel.

Definition:The action of working with others towards a common goal, emphasizing mutual cooperation and collaboration.

Example:The government’s efforts to increase market transparency have significantly reduced the number of bidding cartels.

Definition:The condition where market information is openly available, and prices reflect the true value of goods or services, free from any anti-competitive practices.

Example:The principle of free trade opposes any form of cartel, which stifles competition and raises costs.

Definition:The principle under which trade between businesses and individuals from different countries is unregulated and free from restrictions or tariffs.