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What is the general objective of competition law?

Answer and explanation

Correct answer: To prevent unfair competitive practices

The governing concept is competition law within the legal environment. Competition law seeks to preserve a fair and effective market by restricting practices such as collusion, abuse of dominant position and certain anti-competitive arrangements. Its broader purpose is to protect the competitive process, support consumer choice and discourage businesses from gaining market power through unfair methods. Option A is correct because preventing unfair competitive practices is the direct general objective stated in the question. Options B, C and D have no connection with market competition or legal regulation. Fair competition can encourage efficiency, reasonable prices, innovation and better quality.

Related tags

Business-EnvironmentLegal-EnvironmentCompetition-LawClass-12Legal EnvironmentBusiness EnvironmentBusiness StudiesClass 12 Mcq

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