Question

Successfulness of the competition policy in soth Africa with examples

Answer 1

Answer:

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.

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