Evaluate the successfulness of the competition policy
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1. Competition refers to rivalry among firms in the marketplace. It also extends to
envisaged or potential rivalry. Competition policy refers to government policy to preserve
or promote competition among market players and to promote other government policies
and processes that enable a competitive environment to develop. Competition policy has
two major instruments. The first is a competition law which contains rules to restrict
anti-competitive market conduct, as well as an enforcement mechanism, such as an
authority. The second major instrument, particularly important in the interface with other
economic policies, is competition advocacy.
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