In a large mixing bowl, combine the shredded cabbage, grated carrots, diced red bell pepper, and chopped cilantro.

In a separate small bowl, whisk together the olive oil, lime juice, honey, ground cumin, chili powder, salt, and black pepper until well combined.

Pour the dressing over the slaw mixture and toss until everything is evenly coated. Serve immediately or refrigerate for 30 minutes to allow flavors to meld.