US Fair trade Laws
The aims of competition (anti-trust) laws are to ensure that consumers pay the lowest possible price (the most efficient price) coupled with the highest quality of the goods and services which they consume. This, according to current economic theories, can be achieved only through effective competition. Competition not only reduces particular prices of specific goods and services - it also tends to have a deflationary effect by reducing the general price level. It pits consumers against producers, producers against other producers (in the battle to win the heart of consumers) and even consumers against consumers (for example in the healthcare sector in the USA). This everlasting conflict does the miracle of increasing quality with lower prices. Think about the vast...
Excerpt from file: USFairtradeLaws Theaimsofcompetition(antitrust)lawsaretoensurethatconsumerspaythe lowestpossibleprice(themostefficientprice)coupledwiththehighestqualityof thegoodsandserviceswhichtheyconsume.This,accordingtocurrenteconomic theories,canbeachievedonlythrougheffectivecompetition.Competitionnotonly...
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