What are government's attempts to regulate competition?
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Competition in economics is the rivalry of different sellers in the market to sell their product. Regulation of the competition is the policy of the government used to control the competition in the market in order maintain the sales and control the rate of inflation.
There are many ways in which the government can regulate competition in the country. They do it by:
(i) Decrease price-fixing.
(ii) Decrease the market dominance in the market by a single firm
(iii) The market is liberated.
(iv) Competition regulatory policy is made.
(v) Merger of companies is monitored.
There are many ways in which the government can regulate competition in the country. They do it by:
(i) Decrease price-fixing.
(ii) Decrease the market dominance in the market by a single firm
(iii) The market is liberated.
(iv) Competition regulatory policy is made.
(v) Merger of companies is monitored.
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Explanation:
Help The government may wish to regulate monopolies to protect the interests of consumers. For example, monopolies have the market power to set prices higher than in competitive markets. The government can regulate monopolies through: Price capping – limiting price increases.
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