Competition Policy
Government regulations promoting fair competition, preventing monopolies/unfair practices.
Real World
In 2019, the UK Competition and Markets Authority blocked the proposed merger of Sainsbury's and Asda, arguing it would reduce competition and lead to higher prices for consumers.
Exam Focus
For 'assess' or 'evaluate' questions, argue both that competition policy restricts business freedom and that it protects market efficiency for a balanced answer.
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