282 - BUSINESS LAW

Business Law
(Task 3)

3.1 Monopoly and anti-competitive
practice legislation
In this regard, monopoly and anti-competitive practice legislation can
be understood as below:-
Monopoly:- This kind of market is where only one seller and several
number of people are available for product services. However, there is less
choices presented for buying goods and also prices are determined by
organization's owner. In this regard, some of the important features of monopoly
market structure can be expressed as:-
 Price maker
 Full control over supply
 Barriers to entry
 Firm itself considers as industry.

Cntd.
Anti-competitive practice legislation:
 Business, government and religious
practices
 Helpful to reduce competition in market
 Agreements between competitors

3.2 Role of competition commission
within fair trading
Within fair trading, entities' competition commission play effective role for
facing competition and increasing strength of organization regarding business
and competitive strategies. In accordance to this, competition role model for
advertising products and pulling customers at high level can be expressed as
below:-
 To promote efficiency, adaptability of organization
 To promote employment and competitive prices choice
 For conducting legislation reviews
 Reducing competitive issues
 For deciding mergers and acquisition of entities

3.3 Dominant
positions within EU
common market
European market increases its efficiencies through competitive
advantages and improving product services effectively. In this
process, different market structures are framed for EU market
structures. However, different tools are applied for market's
efficiencies to pull customers and assure them with product quality
services. Including this, it is helpful for nation's effectiveness as it
helps different sectors of the country such as employment,
education, production of goods etc. Moreover, positions of
organization and market effectiveness that affects further operations.

3.4 Instances of EU law exemptions to be
made for anti-competitive practices
EU market and different business strategies get increased
through market structures for competitive advantages. It is useful
for exemptions and for anti-competitive practices. Different
kinds of quality services and efficiencies get improved through
this method for social awareness regarding product services
produced by different organizations of country. Including this,
varieties of planning procedures are implemented to attract
consumers at high level and taking advantages of exhibitions as
well trade fair. In this regard, EU law exemption are effective for
anti-competitive practices. It is useful to reduce competitions as
well improving quality services of products effectively.

Reference
Dimatteo, L.A., 2016. International Business Law and
the Legal Environment. Routledge.
Goldman, A., 2013. Business law: Principles and
Practices. Cengage.
Klass, G., 2010. Contract Law in the USA. Kluwer
Law International.