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Competition is the set of efforts developed by economic agents that, acting independently, compete for the effective participation of their goods and services in a given market.
Competition Law deals with the protection of consumer interests and the protection of free competition in the markets. These are protected by prohibiting acts that are considered to impede competition and by promoting and advocating for a competitive environment.
According to our experts of Competition and Consumer Law Assignment service, it is the set of efforts developed by people who, acting independently, seek to ensure the achievement of an end. In economic terms, competition is a set of acts developed by independent economic agents, who compete to ensure the effective participation of their goods and services in a given market.
Competition in markets must be protected by putting pressure on companies to be more efficient and provide products of higher quality and variety at lower prices. For this, companies must invest in improving quality and producing more; incentives directly related to economic growth and innovation that translate into benefits for consumers. In this sense, the economic stimulus called competition is the only known mechanism that, by itself, can improve the standard of living without interference from the State.
Article 333 of the National Constitution establishes the principles of business freedom, free competition, and economic freedom as rights established at the head of all citizens and subject to the limits established by law. The Constitution indicates:
Commercial activities are free and no one should have former permits or requests without the consent of the law. Free competition is a right of anything that fulfills responsibilities. The company, as a basic development. Is a social function that fulfills obligations? State solidarity will strengthen organizations and encourage the development of the business. States will prevent by law that economic freedom is constrained or restricted and the people or will prevent or control any misuse by companies, the dominant position on the national market.
Not only, our Competition and Consumer Law Assignment Experts are well-versed to deal with any topic of consumer law assignments but also they provide Law Case Study Assignment Help. Here we are sharing a Competition and Consumer Law Assignment sample online based on a case study of commercial practices in Australia.
Here, the meaning and scope that, for each case, are mentioned by our Competition and Consumer Law Assignment writers:
Economic Agent- In the market, any natural person, de facto or legal entity, public or private, a participant in any form of economic activity, as buyer, seller, offertory or demander of goods or services, in their name or on behalf of others, independently that they are imported or national, or that they have been produced or provided by him or by a third party.
Consumer- Any natural person or entity in fact or law, who, as the final recipient, acquires, enjoys or uses the goods or services, or receives information or proposals for it. The small industrialist or artisan is also considered a consumer -in the terms defined in the Regulation of this Law- who acquires finished products or inputs to integrate them into the processes to produce, transform, commercialize or provide services to third parties.
Merchant Or Supplier- Any natural person, de facto or legal entity, private or public that, in its name or on behalf of another, is regularly engaged in offering, distributing, selling, leasing, granting the use or enjoyment of goods or providing services, without necessarily this being its main activity.
For this Law, the producer, as a supplier of goods, is also obliged with the consumer, to respect their rights and legitimate interests.
Public administration-Bodies and public entities of the central and decentralized administration of the State, to which this Law and special laws attribute powers regarding restrictions on the exercise of commercial activities, the regulation, and control of the trade of certain goods or the provision of services, for its sale in the domestic market or for export or import, as well as about the registration and inspection of products, the opening and operation of establishments related to the protection of human, plant and animal health; as well as with safety, environmental protection and compliance with product quality standards.
Adhesion Contract- Agreement whose general conditions have been predisposed, unilaterally, by one of the parties and must be fully adhered to by the other contracting party.
Predisposing- Subject to the adhesion contract that provides, in advance and unilaterally, the general conditions to which the other party must give full adhesion if it wishes to contract.
Adherent -Subject to the adhesion contract that must adhere, in its entirety, to the general conditions unilaterally arranged by the predisposed.
Lower Monthly Minimum Wage- Remuneration was established as such by the Executive Power, by decree, on the recommendation of the National Salary Council of the Ministry of Labor and Social Security or the competent authority.
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