Introduction: A fair deal?
Markets exist when buyers and sellers come into contact and make exchanges. It is important that these markets work well if all parties are to get a fair deal. Consumers must take responsibility for the buying decisions they make by shopping around to find the "best value for money" for both goods and services. Consumers are increasingly aware of their rights, as a result of newspaper coverage, television programmes like "Watchdog" and through the work of bodies like The Office of Fair Trading (OFT).
This Case Study explains the work of the OFT and shows how it works to create more competitive markets in this country to the benefit of consumers and business. A recent ruling by the OFT to stop a newspaper group, Aberdeen Journals Ltd. from limiting competition in its market is examined to show how the OFT can make markets function better.