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business law > competition law > Flashcards

competition law Flashcards

1
Q

types of efficiency

A
  1. static effeciency
  2. dynamic effeciency
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2
Q

what is static effeciency

A
  1. lower prices
  2. better quality
  3. more choice
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3
Q

what is dynamic effeciency

A
  1. efficient allocation of resources
  2. management and tech improvements
  3. product innovation
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4
Q

purpose of competition law

A

ensures that free market competition is maintained

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5
Q

what does egyptian competition forbid?

A
  1. anti-competitive agreements
  2. monopolistic competition
  3. abuse of dominance
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6
Q

what is market power?

A

ability of a firm/group to control prices and limit outputs

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7
Q

types of horizontal agreements

A

cartel

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8
Q

types of carterls

A
  1. price fixing
  2. market allocation
  3. bid rigging
  4. production, distribution, or market limitations
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9
Q

what is price fixing?

A

Cartel members agree to charge the same price for goods or services to eliminate price competition.

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10
Q

what is market allocation?

A

firms agree to split market among themselves so they don’t compete in each others sectors

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11
Q

what is bid rigging?

A

Members coordinate during a bidding process, ensuring one of them wins the contract

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12
Q

what are production, distribution, or market limitations?

A

agreements that limit the amount of products that can be produced or distributed or restrict where they can be solf

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13
Q

what is the relevant market?

A

market segment analyzed to determine competition

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14
Q

components of relevant market

A
  1. products/services seen as substitutes
  2. geographic locations where companies operate under similar conditions
  3. timeframe (duration of analysis)
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15
Q

types of geographic locations

A
  1. domestic
  2. national
  3. regional
  4. global
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16
Q

factors making cement cartel easier

A
  1. uniformity of the product
  2. small number of competitors
  3. transparency in the market
  4. direct contact between competitors
17
Q

what is the e-leniency program?

A

online initiative to encourage businesses and individuals to come forward with information about cartels

18
Q

what is a whistleblower?

A

the first person to report cartel, they file a detailed report and supporting evidence to cartel activity

they’re fully exempt from trouble by the law.

19
Q

what is vertical agreement?

A

agreement between companies operating at different levels of the supply chain

20
Q

what is a horizontal agreement?

A

agreement between companies that operate at the same level in the supply chain

21
Q

what is rule of reason approach?

A

each case is assessed individually to decide if a business practice or agreement violates competition laws

22
Q

criteria for assessment of rule of reason

A
  1. effect on competition
  2. benefit of agreement to consumers
  3. product reputation/safety
  4. compliance with agreement of customs
23
Q

3 elements of dominance

A
  1. market share more than 25%
  2. the ability to affect the prices of product in market
  3. inability of competitors to stop them
24
Q

forms of abuse of dominance

A
  1. any act that leads to complete or partial non-manufacturing or non-distribution for a certain period
  2. not engaging in buying or selling a product to someone, which limits their ability to enter or stay in the market
  3. acts that limit how a specific product is distributed among vertically connected businesses
  4. tie in agreements
  5. price discriminations
  6. withholding scarce products
  7. predatory pricing
  8. restricting supplier relations
25
Q

what is a merger?

A

when 2 or more companies join to form a single entity

26
Q

what is acquisitions?

A

when one company purchases another

27
Q

what is notification requirements?

A

notification is required when annual turnover exceeds 100 million egp, must be submitted within 30 days from transaction

28
Q

what is tie-in agreements?

A

requiring a customer to buy a second product in order to purchase

29
Q

what is price discrimination?

A

treating buyers differently by offering different prices

30
Q

what is predatory pricing?

A

selling products at a below-average price to push competitors out of the market

31
Q

what is restricting supplier relations?

A

imposing conditions on suppliers to prevent them from selling to competitors

business law (10 decks)

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