Question

Argue by means of 5 examples:Successfulness of the competition policy in South Africa

Answer 1

Answer:

- Five examples that support successfulness of the competition policy of South Africa are: 1) The product choices along with its competitive prices were provided to the consumers. 2) Practices such as horizontal collusion and resale price maintenance was declared unlawful in

Answer 2

Explanation:

The Competition Act was implemented in South Africa to maintain and promote competition in the South African market to promote economic efficiency, adaptability, and development. ... It is a structure which regulates the markets and monopolies in the country. It generally aims in preventing monopoly growth.

(a) To promote the efficiency, adaptability and development of the economy; (b) To provide consumers with competitive prices and product choices; (c) To promote employment and advance the social and economic welfare of South Africans; (d) To expand opportunities for South African participation in world markets

Competition policy is part of the new international orthodoxy in economic policy and, at the same time, was viewed in South Africa as a crucial element of economic transformation. This article reviews the role of competition policy in economic development and the experiences of developing countries such as Brazil and South Korea. It then assesses the effects of competition policy in South Africa after 1994, with the main focus being on the performance of the new competition institutions established in 1999. The case of the steel industry is used to assess the approach and impact of the institutions in a concentrated sector that has simultaneously undergone processes of liberalisation and domestic consolidation.

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