Competition policy is an
economics term referring to the body of
laws of a
state which govern the extent, and ability, to which bodies can economically compete. They hence attempt to restrict practices which remove
competition from the
market such as
monopoly and
cartel.Most nations have their own competition laws, and there is a general agreement on what is and what is not acceptable behaviour. The degree to which countries enforce their competition policy does vary substantially, with The United States generally regarded as having the most strict competition laws and enforcement.
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