The Australian Competition and Consumer Commission (ACCC) is an administer of the competition and Consumer Act (CCA) which is to prevent collusion among the firms and to prevent the individual firm which break the market equilibrium with their market power. Well competitive market would deliver efficiency costs, faster innovation, prevention of unduly concentrated markets, business freedom, wealth distribution, and enhancement of international competitiveness. Therefore, the ACCC is playing a crucial
"Discuss the Impact of the Competition and Consumers Act on Marketing Practices for Australian Businesses" The Competition and Consumers Act (CCA) 2010 aims to enhance the welfare of Australians through the fair-trading of businesses and incorporating provisions to enhance consumer protection. This has a large impact on marketing practices exploited by Australian Businesses. The Competition and Consumer Act is a major legislation that restricts unethical business marketing practices in Australia
This essay will discuss the requirements for a legally binding contract, elements for establishing misrepresentation in a court and some elements of the Australian Competition and Consumer Act 2010. Mr Manfredi entered into a bilateral contact with Elvis Eggplant who is the director of the vegetarian café HappyHippie. Elvis Eggplant has induced Mr Manfredi to purchase the café HappyHippie by inflating financial accounts by 60% and supplying misleading information about future profitability of the
through legislation, that is, laws can be imposed on businesses by United Kingdom courts and government. Therefore, the three main areas of legislation by which the law affects business in the United Kingdom are through employment law, consumer protection Act and competition law. The employment law as the name typifies is the law that regulates the relationship between workers, trade unions, employers and the government and the main types of employment status include workers, employees, self-employed and
this debacle by making the Cable Television Consumer Protection and Competition Act of 1992. This law would require cable providers to set aside channels so that local or public broadcasters could take place in the vacant airwaves, which would effectively keep them all from going out of business under the pressure of larger cable networks. The Federal Communications Commission would be responsible for any sort of actions to be taken to ensure that the Act was properly set into place. For those who
within the Competition and Consumer Act (2010) (Cth), whilst providing a recommendation to improve the current contractual legislation. The legislation in relation to misrepresentation has been a controversial topic for years, becoming more efficient only in recent times within Australia. With significant alterations to the Trade Practices Act (1974) (Cth), it was renamed under the title Competition and Consumer Act (2010) (Cth). Australian Consumer Law (Cth) is encompassed within the act under schedule
American Consumer: What is the Federal Trade Commission For the last 100 years a single federal agency has stood to protect the american consumers. The Federal Trade Commission (FTC) was established as an administrative government agency that was created by congress to enforce the Federal Trade Commission Act (FTCA). The FTCA gives authorities the power to prohibit unfair methods of competition as a means to protect consumers. The Commission’s mission is dual objective, protect consumers and promote
United States has several laws that ensure that competition among businesses flow rely and new competitors get free access to the market. These laws intend to ensure fair and balanced competitive business practices. However, there are times when some businesses will do anything to gain competitive edge. USA has strong antitrust laws that prohibit fixing market price, price discrimination, conspiring boycott, monopolizing, and adopting unfair business practices. The history of Antitrust laws goes
market. Monopolies: Monopolies are a group of business people who act as one. Considerable power is in the company’s ability to set and influence prices. The power is determined by the demand curve cladding the company and with almost no competition. Monopolies have no public ownership. When the competition is low and a company is dominating the demand curve it creates a monopoly because competition is low competition is never nonexistent, there are no other companies who can produce the same
industry prices and take advantage of consumers. Rules set by government and agencies that help control the operations of businesses who may demonstrate monopoly power in their organization. Monopoly may lead to consumers being exploited (higher prices) and consumers paying way too much for a product. Antitrust laws are federal and state government laws that regulate the conduct and organization or businesses. This helps promote fair competition for consumers. There are four main areas involving