political and legal changes Flashcards
(3 cards)
1
Q
legislation
A
- creating laws to protect customers and business / society as a whole
2
Q
competition law
A
- firms aren’t allowed to=
agree prices with competitors
limit production inorder toreduce competitiors
3
Q
benefits that come from competition policy being successful
A
lower price = bc more comp
improved quality= they wanna keep customers , so they’ll improve their quality
