4.1.8.7 Competition Policy NOTES

What is the primary aim of UK competition policy?

• To support monopolies

• To restrict international trade

• To increase government revenue

• To promote competition and protect consumer interests

Which regulatory body fined Pfizer and Flynn Pharma in 2016?

• The Competition and Markets Authority (CMA)

• The Federal Trade Commission

• OFWAT

• The European Commission

What was the main concern in the CMA's investigation into Amazon's investment in Deliveroo?

• Environmental impact

• Employment law violations

• Potential anti-competitive effects

• Data privacy issues

Why did the CMA block the merger between Sainsbury's and Asda?

• Data security concerns

• International trade restrictions

• Lack of financial stability

• Concerns about higher prices and reduced choice for consumers

What type of enforcement does the European Commission impose on Google?

• Tax evasion penalties

• Fines for abusing dominant position in markets

• Awards for best business practices

• Subsidies for market expansion

What does EU competition law regulate concerning state aid?

• Promotion of state aid

• Prevention of competition distortion by state aid

• Support for unlimited state aid

• Encouragement of state monopolies

Which sector-specific regulation is mentioned under EU competition policy?

• Agriculture

• Telecommunications

• Fashion

• Real estate

What is a noted benefit of competition policies according to the text?

• Increased monopolistic practices

• Decreased market innovation

• Consumer welfare through competitive prices and choices

• Higher compliance costs for businesses

Which UK regulator ensures fair pricing and service quality in the water industry?

• The CMA

• The Securities and Exchange Commission

• OFWAT

• The European Commission

What was the outcome of the European Commission's review of the LinkedIn acquisition by Microsoft?

• Significant financial penalties

• Unconditional approval

• Approval with conditions

• Complete block of the merger