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,
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
RODUCTION Consumer rights protection has been an ongoing phenomena, since the 50 B.C when the Roman Government passed the Lex Julia de Annona statute to protect consumers for roman citizens. In Tanzania consumer rights protection came during the era of low commodity production, consumers faced a problems in terms of goods that were imported and exported, hence it became necessary to have laws to protect the consumers. It is vivid that consumer protection goes hand in hand with the laws on competition
clarity is required within the legislation to remove the controversy between contract law terms. The Second issue is in relation to punitive punishments being inconsistent between cases within Australia, causing inefficiencies within the Competition and Consumer Act (2010) (Cth). Punishments awarded vary significantly for misleading advertisements, from $850 000 against Metricon Queensland to $3.6 million upon the famous phone company Optus. For a company as successful as Metricon Queensland, an $850
Laws and Violations Introduction Antitrust laws are to protect competition. The free and open competition benefits that consumers have by ensuring that they have lower prices as well as new and better products. In a freely competitive market, each competing business generally will try to attract consumers by cutting its prices and increasing the quality of its products or services in order to try to beat out there competitor. The competition and the profit gives the opportunities to bring and also stimulate
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
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