Competition Policies (Grade 12 NSC Matric Economics): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
Competition definition
Competition definition
Businesses freely enter/leave markets without barriers
SA Competition Act year & number
SA Competition Act year & number
Act 89 of 1998
Primary aim of Competition Act
Primary aim of Competition Act
Promote economic efficiency
Price-fixing
Price-fixing
Competitors agree to charge same high prices
Competition Commission role
Competition Commission role
Investigative body examining restrictive practices
Competition Tribunal role
Competition Tribunal role
Independent court authorising/prohibiting mergers
Competition Appeal Court role
Competition Appeal Court role
Final court of appeal for competition matters
Number of SA competition institutions
Number of SA competition institutions
Three
Who abuses market power (policy prevents)
Who abuses market power (policy prevents)
Monopolies & powerful businesses
Small businesses supported by Competition Act
Small businesses supported by Competition Act
SMMEs (Small, Medium & Micro Enterprises)