Summative Assignment March '07

Microeconomics for Business

Briefly outline the main features of, and rationale for, UK Competition Policy. Is it possible to have an effective policy when there are so many large multi-national corporations operating across the global economy?

UK Competition Policy can be broadly defined as "a means by which governments hope to improve the competitive environment in which firms operate, in order to enhance the overall performance of the economy."(Lees and Lam, 2001) Competition law is enforced by the Office of Fair Trading. Their aim is to make the market place fair, by eliminating any unfair practices. Under the title of Competition Policy, a number of factors are taken into account. Competition Law is used to impose certain regulations on companies. A number of different Acts are used to implement the law. The Competition Act of 1998 covers such issues as the prevention of cartels, and the prevention of the abuse of a dominant market......

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Title: Briefly Outline The Main Features Of, And Rationale For, Uk Competition Policy. Is It Possible To Have An Effective Policy When There Are So Many Large Multi-National Corporations Operating Across The Global Economy?
Approximate Word Count: 1731
Approximate Pages: 7 (250 words per double-spaced page)

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