Question

What is the successfulness or benefit of the competition policy in South Africa?

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.

Explanation:

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