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What is a cartel?

What is a cartel? Here are some definitions.

Noun
  1. (economics) A group of businesses or nations that collude to limit competition within an industry or market.
  2. (politics) A combination of political groups (notably parties) for common action.
  3. (historical) A written letter of defiance or challenge.
  4. (historical, law) An official agreement concerning the exchange of prisoners.
  5. (historical, nautical) A ship used to negotiate with an enemy in time of war, and to exchange prisoners.
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Examples
They organize a cartel for the purpose of raising the price for the product in question.
Every agent infiltrating a drug cartel is an agent who could be infiltrating a terrorist cell.
The party established a de facto political cartel that excluded other parties from power.
This policy of keeping inventories low will deny consumers a buffer against any production cutbacks that the cartel may make if prices weaken.
Also unheard-of was a cartel cornering a commodity such as crude oil, as long as the medium of exchange was gold.
If these things had happened solely in the private sector, the members of the cartel would have been prosecuted under the Trade Practices Act.

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