Understanding Cartelization: Definition, Examples, and Legal Consequences

Cartelization is the process of forming a cartel, which is an agreement among competitors to limit competition and fix prices. In other words, it's a conspiracy among businesses to control the market and make profits by restricting supply and raising prices.

The term "cartelize" refers to the act of creating or joining such a cartel. It can also refer to the state of being part of a cartel or the practice of engaging in cartel behavior.

For example, if several companies in a particular industry come together and agree to limit production and raise prices, they are said to have cartelized that market. The result is often higher prices for consumers and less competition among businesses.

It's worth noting that cartelization is illegal in many countries and can lead to serious legal consequences for those involved. It's important for businesses to operate ethically and avoid engaging in any behavior that could be seen as collusive or anti-competitive.