vocab

the competition commission is a independetn publci body who conducts indepth inquireies into planned mergers, markets and regulation of the major regulated industries. it has the powers to impose changes to teh companies concerned or ban the proposed merger.

Cartel is any agreement between businesses to reduce commpetition or to not to compete. this agreement is usually a secret and may be impemented in various ways.

Consumer Soverignty happen whne the consumer has control. The buying decision of the consumer dictates what is produed in the market. While the business can produce and try to sell whatever they want, it i the consumer decision to whether to buy or not. If the consumer do not buy the good, the business will not sell the goods and will not be produced.

Consumption is the total of all spending of individuals on private consumption

Cost benefit analysis attempts to calulate the costs and benefits of a project to make a decision on way or the other. In theroy, If the benefits outweigh costs…