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The first legislation in Canada dealing with competition was the Anti-Combines Act, [2] introduced in May 1889 as the first antitrust statute in the industrial world, preceding the American Sherman Antitrust Act. [3] [4] [5] The legislation prohibited conspiracies and agreements by businesses in restraint of trade. [2]
In 1950, the MacQuarrie Committee was appointed to review Canada's anti-combines policies and recommend such changes as would "make it a more effective instrument for the encouraging and safeguarding of our free economy." [2] The Act would again be revised in 1952 [7] and amended in 1969 by the Criminal Law Amendment Act, 1968–69. [3]
It is also known as antitrust law (or just antitrust [4]), anti-monopoly law, [1] and trade practices law; the act of pushing for antitrust measures or attacking monopolistic companies (known as trusts) is commonly known as trust busting. [5] The history of competition law reaches back to the Roman Empire.
Natural monopoly: This type of monopoly occurs when a firm can efficiently supply the entire market due to economies of scale, where larger production leads to lower costs. For example, in some cases, utilities (such as those providing electricity or water) may operate as natural monopolies due to high infrastructure and distribution costs.
WASHINGTON (Reuters) -A U.S. judge ruled on Monday that Google violated antitrust law, spending billions of dollars to create an illegal monopoly and become the world's default search engine, the ...
The term is used directly in laws and regulations in the United States and Canada, [1] but legislation exists internationally with similar regulatory purpose under existing competition laws. It is sometimes used to refer to practices of a coercive monopoly that prices above the market rate by deliberately curtailing production. [2]
He has pledged 25% duties on goods from Canada and Mexico — strongly hinting on Monday he could target auto imports — and 10% tariffs against China, citing the drug trade and illegal ...
In general it is a government agency, typically a statutory authority, sometimes called an economic regulator, that regulates and enforces competition laws and may sometimes also enforce consumer protection laws. In addition to such agencies, there is often another body responsible for formulating competition policy.