Question

What do you mean by MRTP act? How has it affected the way business used to done earlier?​

Answer 1

MRTP Act:

MRTP act means Monopolistic and Restrictive Trade Practices Act 1969.

Prior to the enactment of the law, the following were the impact on business:

• Economic power was highly concentrated i.e. the operation of the market laid in the hands of very few business.
• This lead to large scale concentration of economic freedom and authority.  
• Majority of the market was highly monopolistic in nature with heavy barriers to entry and exit.
• This resulted in less number of competitions in the market.

To learn more know Monopolistic and Restrictive:

What is the full form of MRTP?

https://brainly.in/question/6714961

Define the minopolies and restrictive trade practices act

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Answer 2

Answer:

Monopolistic and Restrictive Trade Practices Act

Explanation:

The Monopolistic and Restrictive Trade Practices Act, 1969, was enacted. To ensure that the operation of the economic system does not result in the concentration of economic power in hands of few, To provide for the control of monopolies, and. To prohibit monopolistic and restrictive trade practices.