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Which of the following are not the objectives of the Competition Act, 2002? (A) Ensure freedom of trade for other participants in incidental and connected markets. (B) Provide a reasonable level of reliability and connect operation. (C) Adhere to generally accepted security procedures. (D) Protect the interests of consumers. Choose the correct answer from the options given below:

Which of the following are not the objectives of the Competition Act, 2002? (A) Ensure freedom of trade for other participants in incidental and connected markets. (B) Provide a reasonable level of reliability and connect operation. (C) Adhere to generally accepted security procedures. (D) Protect the interests of consumers. Choose the correct answer from the options given below: Correct Answer B, C only

The incorrect answer is  B, C only

Important Points

(A) Ensure freedom of trade for other participants in incidental and connected markets.

  • This is one of the objectives of The Competition Act, 2002.
  • The Competition Act, 2002 ensures freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto.

(B) Provide a reasonable level of reliability and connect operation.

  • This is not the objective of The Competition Act, 2002.
     

(C) Adhere to generally accepted security procedures.

  • This is not the objective of The Competition Act, 2002.
     

(D) Protect the interests of consumers.

  • This is one of the objectives of The Competition Act, 2002.
  • The Competition Act, 2002 ensures protection of interests of consumers.

Additional Information

The Competitors Act, 2002 Competition is the act of sellers seeking to gain the protection of buyers in order to gain personal profit or market share.

This Act, enacted by the Parliament of India in 2002 and the Monopolies and Restrictive Trade Practices Act, 1969 was replaced.

It is effective to control Indian competition.

Its objectives are as follows:

  • To prepare a roadmap for the establishment of the Competition Commission
  • To prevent monopoly and promote competition in the market.
  • To protect consumer interests.
  • Ensuring the freedom of the people participating in the business.

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