What does the oft do?
The OFT’s goal was to make markets work well for consumers, ensuring vigorous competition between fair dealing businesses and prohibiting unfair practices such as rogue trading, scams, and cartels. Its role was modified and its powers changed with the Enterprise Act 2002.
What is supply side substitution?
Supply-side substitution means a possibility allowing authorised undertakings operating in a competitive market, to provide users with types of interchangeable services.
What is demand side substitution?
Demand-side substitution takes place when consumers switch from one product to another in response to a change in the relative prices of the products. When examining the likely responses of consumers, it is the response of the marginal consumer, not the average consumer which is important.
What is the relevant product market?
A relevant product market comprises all those products and/or services which are regarded as interchangeable or substitutable by the consumer by reason of the products’ characteristics, their prices and their intended use.
Why is Fair Trading important?
Fairtrade enables consumers to demand a better deal for those that produce our food. Through choosing Fairtrade consumers can demand the highest standards from business and government, ensuring people and planet are not exploited to create the products we enjoy.
Does oft still exist?
The OFT was established in 1973 as a non-ministerial government department with the aim of regulating markets for the benefit of consumers. As part of the UK Government’s reforms to the competition and consumer regimes the OFT ceased to exist on 31 March 2014.
How is market antitrust defined?
What Is Market Definition? Market definition is a crucial part of building many antitrust cases. It’s also one way that alleged anticompetitive activity is measured. Market definition seeks to define a relevant market that separates the products and services that compete with each other and those that do not.
What is a geographic market?
Marketing strategies target consumers based on knowledge about geographic demographics and preferences. A market that is classified by geographical segmentation is a geographic market. Countries, counties, and metropolitan areas all represent various geographical regions.
Which association can take Cartel?
Section 2(c) of the Act defines “cartel” to include an association of producers, sellers, distributors, traders or service providers who, by agreement amongst themselves, limit, control or attempt to control the production, distribution, sale or price of, or, trade in goods or provision of services.
Which companies are Fairtrade?
Here are some of our favourite fair trade brands in the UK.
- FAIR SQUARED.
- Seed and Bean Chocolate.
- Clipper Teas Organic Everyday Teas.
- People Tree.
- Bird & Wild.
- Dip & Doze.
- Lebrusan Studio.
What coffee is fair trade?
Fair trade coffee is coffee that is certified as having been produced to fair trade standards by fair trade organizations, which create trading partnerships that are based on dialogue, transparency and respect, with the goal of achieving greater equity in international trade.
What is Market Market definition?
Market definition is one of the most fundamental concepts underpinning essentially all competition policy issues, from mergers, through dominance/monopolisation to agreements.
What is an OTF (open trading platform)?
An OTF is the platform for multilateral trading interests to interact leading to transactions in the financial instrument.
What is an OTF contract?
Organised trading facility (OTF) is a multilateral system, which is not a regulated market or MTF and in which multiple third party buying and selling interests in bonds, structured finance product, emissions allowances or derivatives are able to interact in the system in a way which results in a contract. 25 September 2020
What does it mean to trade in the stock market?
If one says that she trades in the stock market, it means that she buys and sells shares/equities on one (or more) of the stock exchange (s) that are part of the overall stock market. The leading stock exchanges in the U.S. include the New York Stock Exchange (NYSE), Nasdaq, and the Chicago Board Options Exchange (CBOE).