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Questions and Answers
What was a significant aim of the modern competition law established in the 1890s?
What was a significant aim of the modern competition law established in the 1890s?
Which modern communication methods are commonly associated with cartel evidence collection?
Which modern communication methods are commonly associated with cartel evidence collection?
What is a key difference between agreements under competition law and contract law?
What is a key difference between agreements under competition law and contract law?
What is one of the main elements identified under the Section 34 prohibition?
What is one of the main elements identified under the Section 34 prohibition?
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How can cartel agreements be characterized according to competition law?
How can cartel agreements be characterized according to competition law?
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What does Section 34 of the Competition Act address specifically?
What does Section 34 of the Competition Act address specifically?
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What term is commonly used to describe the secret gatherings of executives involved in cartels?
What term is commonly used to describe the secret gatherings of executives involved in cartels?
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Which behavior is classified as hardcore conduct that restricts competition?
Which behavior is classified as hardcore conduct that restricts competition?
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What is the primary characteristic of collusive behavior in a market?
What is the primary characteristic of collusive behavior in a market?
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What must be proven for an agreement to infringe the Section 34 prohibition?
What must be proven for an agreement to infringe the Section 34 prohibition?
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Which of the following best represents an aspect of buy-effect restrictions?
Which of the following best represents an aspect of buy-effect restrictions?
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Which type of agreement involves firms collaborating on bids for contracts?
Which type of agreement involves firms collaborating on bids for contracts?
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What is the primary intent behind hardcore restrictions like price-fixing?
What is the primary intent behind hardcore restrictions like price-fixing?
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In terms of market behavior, what does output limitation refer to?
In terms of market behavior, what does output limitation refer to?
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What could be considered an example of a market-sharing agreement?
What could be considered an example of a market-sharing agreement?
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Which type of agreement may prevent the development of alternative products?
Which type of agreement may prevent the development of alternative products?
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What type of information, when shared, is unlikely to infringe Section 34?
What type of information, when shared, is unlikely to infringe Section 34?
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Which category of agreements falls under the exclusion of Section 34 prohibition?
Which category of agreements falls under the exclusion of Section 34 prohibition?
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Which of the following scenarios is an example of a vertical agreement?
Which of the following scenarios is an example of a vertical agreement?
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What is a common misconception about the exclusion of vertical agreements under Section 34?
What is a common misconception about the exclusion of vertical agreements under Section 34?
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What is the likelihood of an organized exchange of sensitive data infringing the prohibition?
What is the likelihood of an organized exchange of sensitive data infringing the prohibition?
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Which information type is clearly not considered anti-competitive?
Which information type is clearly not considered anti-competitive?
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An agreement between which parties could be a violation of the Section 34 prohibition?
An agreement between which parties could be a violation of the Section 34 prohibition?
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Why is knowledge of past pricing unlikely to influence current pricing decisions?
Why is knowledge of past pricing unlikely to influence current pricing decisions?
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What did the CCCS find regarding the hotel groups in Singapore?
What did the CCCS find regarding the hotel groups in Singapore?
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Which two customer categories did the CCCS identify in its analysis?
Which two customer categories did the CCCS identify in its analysis?
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What can be inferred about CCCS penalties in relation to Section 34?
What can be inferred about CCCS penalties in relation to Section 34?
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What distinguishes vertical agreements from horizontal agreements?
What distinguishes vertical agreements from horizontal agreements?
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What is considered a focal product for this case regarding hotels?
What is considered a focal product for this case regarding hotels?
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What was the role of Andrew Yip in the discussed matter?
What was the role of Andrew Yip in the discussed matter?
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What must an undertaking do to avoid liability during meetings with potential anti-competitive purposes?
What must an undertaking do to avoid liability during meetings with potential anti-competitive purposes?
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How does the CCCS treat foreign headquarters in global cartel investigations?
How does the CCCS treat foreign headquarters in global cartel investigations?
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What was the primary economic harm identified in the case involving ticket price fixing by coach operators?
What was the primary economic harm identified in the case involving ticket price fixing by coach operators?
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Which factor distinguishes corporate from non-corporate customers in hotel accommodation?
Which factor distinguishes corporate from non-corporate customers in hotel accommodation?
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In the context of the hotel industry, what does Section 34 of the Competition Act pertain to?
In the context of the hotel industry, what does Section 34 of the Competition Act pertain to?
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During which time period did the ticket prices for one-way express coach tickets to Kuala Lumpur increase significantly?
During which time period did the ticket prices for one-way express coach tickets to Kuala Lumpur increase significantly?
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What aspect about hotel customer groups did the CCCS conclude?
What aspect about hotel customer groups did the CCCS conclude?
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What percentage did coach operators mark up fuel and insurance charges by, according to the CCCS findings?
What percentage did coach operators mark up fuel and insurance charges by, according to the CCCS findings?
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What is a potential consequence of an undertaking not publicly distancing itself from unlawful actions discussed in a meeting?
What is a potential consequence of an undertaking not publicly distancing itself from unlawful actions discussed in a meeting?
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Which statement best summarizes the findings of the CCCS regarding the exchange of information?
Which statement best summarizes the findings of the CCCS regarding the exchange of information?
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What does the term 'global cartel matter' imply in the context of the CCCS's work?
What does the term 'global cartel matter' imply in the context of the CCCS's work?
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Study Notes
Market Behavior Prohibitions
- Market behavior prohibitions, also known as antitrust, are the second of four lectures in the Competition Law Module.
- Their origins trace back to the 1890s in the U.S., aimed at preventing large companies from restricting competition through trusts.
- Cartels, once structured as smoke-filled rooms, now frequently occur as email and private messaging exchanges (e.g., WhatsApp).
- Enforcement agencies (CCCS) often find evidence of antitrust violations during dawn raids, where they seize computers and phones from suspected individuals.
Section 34 Prohibition: Anti-competitive Agreements
- Section 34 of the Competition Act prohibits any agreements or concerted practices between businesses aiming to prevent, restrict, or lessen competition in Singapore.
- These agreements, whether formal or informal (gentleman's agreements), can be infringing.
- Hardcore conduct includes price fixing, market allocation (sharing markets), and bid rigging.
- Agreements can be infringing even if there's no intent, but rather just a restrictive effect on competition.
- Sharing of information can be prohibited depending on the type and context. Non-commercially sensitive information, for instance, is usually not considered anti-competitive.
Other key elements
- Agreements/concerted practices
- Object/effect: prevention, restriction, or distortion of competition
- Vertical agreements are excluded (only those between competitors in the same production level).
- Meetings with anti-competitive objectives require a public distancing statement.
- Evidence of a global cartel is possible from a series of meetings across countries.
- Financial penalties are possible for anti-competitive activity.
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Description
Explore the key concepts of market behavior prohibitions in this quiz based on the Competition Law module. Learn about the origins of antitrust laws in the U.S., the role of enforcement agencies, and the implications of Section 34 in Singapore's Competition Act. Test your knowledge on how anti-competitive agreements can impact market dynamics.