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Anti-trust laws
The US Supreme Court has referred to anti-trust laws as the “charter of freedom.” They protect our core republican values, such as freedom of speech, and prohibit businesses from abusing their power to control the marketplace. The term “trust” originally only had legal meaning, but it became more common in the 19th century when large manufacturing conglomerates began to form. The law was developed to prevent these companies from monopolizing the transportation industry and forcing competition.
Fair trade prices
Fair trade is a form of commerce that requires the trading of merchandise at reasonable rates that allow sellers to profit. It also describes prohibited practices and helps establish a relationship between the seller and the consumer. For example, businesses that offer refunds for returned products must follow fair trade principles. Fair trade prices in competition and consumer law assignment help highlight the importance of a clear price statement. Ultimately, these principles are critical to the development of an economy.
Bid rigging
When a company wants to win a contract, it has to bid competitively to secure it. This happens in the marketplace, government, and even education. A school, for instance, might advertise for a contract to provide milk every year. In some cases, competitors will conspire to avoid competition, and some may even refuse to submit tenders altogether. In these cases, the added costs of a rigged bid are passed onto consumers, taxpayers, and ratepayers.
Protecting small businesses
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