Question

Briefly discuss the success of competition policy of south Africa?

Answer 1

Answer:

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 also provides consumers with competitive prices and product choices.
• It is a structure which regulates the markets and monopolies in the country.
• It generally aims in preventing monopoly growth.
• It benefited by balancing the act of economic transformation that will benefit all South Africans through ownership, the participation of small and medium enterprises and employment.
• In 1984, it declared practices such as resale price maintenance and horizontal collusion to be unlawful.

Answer 2

Answer:

Explanation:

The Competition Act of 1998 was passed with the intention of fostering and preserving competition in South Africa in order to accomplish the following goals:

• To encourage the economy's growth, flexibility, and efficiency.
• To offer customers a variety of products at competitive prices.
• To advance South Africans' social and economic welfare by promoting employment.
• To increase South Africa's participation opportunities in international markets and acknowledge the importance of foreign competition in the Republic.
• To make certain that small and medium-sized businesses are given an equal chance to participate in the economy.

• To encourage a wider distribution of ownership, in particular to raise the ownership stakes of historically underprivileged people.

#SPJ2