Competition Act

Question 1

What is competition act 2002 ?

Answer 1

It is a law that governs commercial competition in India

Question 2

Which law was replaced by competition act ?

Answer 2

Mono-polite and restrictive trade practices act 1969

Question 3

What is Acquisition?

Answer 3

Is defined as the direct or indirect agreement to acquire shares, voting rights and control of assets over any enterprise

Question 4

What is cartel ?

Answer 4

A cartel is defined as an association of producers, sellers, distributors or traders who limits control or attempt to control the production, distribution or sale of goods and services upon an agreement among themselves

Question 5

What is dominant position?

Answer 5

A dominant position means a position of strength enjoyed by an enterprise in the relevant market

Question 6

Predatory prices ?

Answer 6

Is the price of goods and services is reduced to well below the cost of production in order to eliminate competition

Question 7

Rule of reason

Answer 7

It is the analysis of any activity under the challenge on the basis of business justification competitive intent, impact on competition

Question 8

What are the salient features under competition act 2002

Answer 8

1 anti agreement
2 abuse of dominant position
3 combination ( merger and acquisition)
4 competition commission of India