The importance of competition law

September 09, 2016

An Office of Fair Trading case study

The purpose of competition law

Competition is an essential element in the efficient working of markets. It brings important benefits to the consumer by:

  • encouraging enterprise, innovation, efficiency and a widening of choice;
  • enabling consumers to buy the goods and services they want at the best possible price; and
  • contributing to our national competitiveness.

Competition law seeks to encourage and improve the competitive process, and to ensure consumers feel the benefits of that process. These aims are achieved in practice through competition law.

 

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