Bissoy.com
Doctors Medicines MCQs Q&A

In which of the following years did the Monopolies and Restrictive Trade Practices Act (MRTP) became effective?

In which of the following years did the Monopolies and Restrictive Trade Practices Act (MRTP) became effective? Correct Answer 1970

The correct answer is 1970.

 Key Points

  • MRTP stands for Monopolies and Restrictive Trade Practices
  • MRTP Act was passed in 1969 and became effective from 1970
  • This Act was enacted to prevent the concentration of economic power to common detriment, control monopolies, and prohibit monopolistic and restrictive trade practices (MRTP) and matters connected therewith.

Additional Information 

   Monopolistic and Restrictive Trade Practice under MRTP Act, 1969

  • The Monopolistic and Restrictive Trade Practices Act, 1969, was enacted.
    • To ensure that the operation of the economic system does not result in the concentration of economic power in hands of few,
    • To provide for the control of monopolies, and
    • To prohibit monopolistic and restrictive trade practices.
    • The MRTP Act extends to the whole of India except Jammu and Kashmir.

Related Questions

Monopolies and restrictive Trade practices (MRTP) act was passed in:
Which of the following are the objects of the Consumer Protection Councils
(1) The right to be protected against the marketing of goods and services which are hazardous to life and property
(2) The right to be informed about the quality, quantity, potency, purity, standard and price of goods or services so as to protect the consumer against unfair trade practices
(3) The right to seek redressal against unfair trade practices or restrictive trade practices or unscrupulous exploitation of consumers
(4) The right to consumer education:
Which of the following are the objectives of the Consumer Protection Council?
1. The right to be protected against the marketing of goods and services, which are hazardous to life and property.
2. The right to be informed about the quality, quantity, potency, purity, standard and price of goods or services so as to protect the consumer against unfair trade practices.
3. The right to seek redressal against unfair trade practices or restrictive trade practices or unscrupulous exploitation of consumers.
4. The right to consumer education.
In which of the following cases, the power of superintendence of High Courts does not extent?
1. Administrative Tribunals constituted under the Administrative Tribunals Act, 1985.
2. Tribunals created under the Army Act, 1950
3. Tribunals created for adjudication of disputes with regard to inter-state rivers.
4. Monopolies and Restrictive Trade Practices Commission.
Select the correct answer:
Which of the following acts has replaced the Monopolistic and Restrictive Trade Practices (MRTP) Act?
The Monopolistic and Restrictive Trade Practices Act (MRTP) came into force from the year:
In the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of the four alternatives. The scenario _________________ dramatically today. We have the ___________________ of powerful Internet monopolies that are much bigger ________________ the telcos. Not surprisingly, these companies now see the _______________ of monopoly. They would like to combine with telcos to create monopolies for their platforms, ensuring that they control the future of the Internet and freeze their competition ____________.
monopolies that are much bigger ________________ the telcos
The Monopolies and Restrictive Trade Practices Act was repealed by:
Consider the following for the dissolution of trade unions under the Trade Union Act, 1926. Which of the following statement(s) is/are correct?
1. When a registered Trade Union is dissolved, notice of the dissolution is signed by nine members and by the Secretary of the Trade Union.
2. The notice of dissolution must be sent within ten days to the Registrar.
3. Where the dissolution of a registered Trade Union has been registered and the rules of the Trade Union donot provide forthe distribution of funds of the Trade Union on dissolution, the registrar shall divide the funds amongst the members in such manner as may be prescribed.
The question given below consists of a statement, followed by three arguments numbered I, II and III. You have to decide which of the arguments is/are ‘strong' arguments and which is/are ‘weak' arguments and accordingly choose your answer from the alternatives given below each question. Statement: The United States has launched what China calls the ‘largest trade war in economic history' and in its latest move targeted another $200 billion in Chinese export goods. The US-China spat is one of several trade fights picked by the protectionist President Donald Trump as his ‘America First' agenda disrupts trade relations among traditional allies. The growing share of international trade under threat has raised the prospect the escalating trade war could harm the global economy, shrinking investments and undermining supply chains. Why? Arguments: I. Several companies - including Total and Peugeot of France, and Russia's Lukoil - have said they are preparing to exit Iran ahead of US deadlines, the last of which is November 4. II. Trump argued the original deal from 2012 was lopsided in Seoul's favour but has also clouded the issue by appearing to link trade concessions to progress in his separate track of talks with nuclear-armed North Korea. III. Meanwhile, talks among the three NAFTA (North American Free Trade Agreement) signatories, launched after Trump demanded an overhaul of the ‘terrible deal', have snagged notably owing to the US demands to increase American content installed in duty-free autos.