Regulations Flashcards
1
Q
What is the purpose of regulations
A
Used to investigate dominance and anti competitive
2
Q
The CMA
A
Known as the competitive market authority
They can stop mergers and takeovers
Main aim is to encourage competition for benefit of the consumer ( higher quality and decrease in price)
3
Q
What do the cma do
A
Investigate mergers between organisations to not reduce competition
Protect consumers from unfair trading
4
Q
Sanctions of the cma
A
Business involved can be finded 10% or the global turnover
Consumers and competitors involved can sue for damages
Company director can be taken away
Can fine individuals
5
Q
Regulations for nationalised industries
A
Separate regulations for things such as gas electricity water railways and telecoms
6
Q
Impacts on regulations on business
A
Can increase competition Increase quality and lower prices More choices More business in a market Lower barriers of entry Less marker dominance
7
Q
Steeple
A
Social Technology environment Ethics Political Legal Economic
