competition policy Flashcards
1
Q
who enacts competition policy
A
-Uk competition and markets authority:
specialised: ORR (rail), CAA (civil aviation), OFCOm (telecommunications), OFWAT (water), OFGEM (electricity)
-EU: European competition commission
2
Q
aims of competition policy
A
ensure public interest is being protected
-prevent excessive pricing
-promot competition
-ensure quality, standards choice
-regulate natural monopolies, ensure effective privatisation of natural monopolies
-promote technological innovation
3
Q
when will competition policy occur
A
-antitrust (collusive cartel agreements (two firms limit supply?fix price)
-investigate mergers
-liberalise concentrated markets
-monitor state aid control, subsides agricultural scheme e.g.
