Abstract
The paper identifies and analyses the main economic subjects which have impact on the emergence and breakdown of the cartels in the country of small economy with developed culture of competition. The modified M. Porter's “Five Forces” model is used as the methodological base for the empirical analysis in Lithuania. The analysed period is 2000 - 2014 years. The analysis proved that the business associations and intension of undertakings to form the cartels are the main factors in the analysed country, which had positive impact on the emergence of the cartel. The producers of substitutes and potential competitors had no effect. The biggest influence on the breakdown of the cartel had the activity of Competition Council of the Republic of Lithuania.
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