The importance of competition policy

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The purpose of competition policy Competition is an essential element in the efficient working of markets. It brings important benefits to the consumer by: encouraging enterprise, innovation, efficiency and a widening of choice;enabling consumers to buy the goods and services they want at the best possible price; andcontributing to our national competitiveness. Competition policy seeks to encourage and improve the competitive process, and to ensure consumers feel the benefits of that process. These aims are achieved in practice through competition law. United Kingdom competition law…

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