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Questions and Answers
What is the primary focus of Unfair Competition Law?
What is the primary focus of Unfair Competition Law?
Which legislation regulates Antitrust Law in Spain?
Which legislation regulates Antitrust Law in Spain?
How does the Spanish Constitution support competition?
How does the Spanish Constitution support competition?
What does the term 'freedom of enterprise' refer to in the context of competition law?
What does the term 'freedom of enterprise' refer to in the context of competition law?
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What is the objective meaning of Competition Law?
What is the objective meaning of Competition Law?
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What is the primary aim of E.U. Antitrust Law?
What is the primary aim of E.U. Antitrust Law?
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What legislative act governs state aids under E.U. Antitrust Law?
What legislative act governs state aids under E.U. Antitrust Law?
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Which of the following does NOT constitute an unfair act under the Unfair Competition Law?
Which of the following does NOT constitute an unfair act under the Unfair Competition Law?
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Which article of the TFEU addresses the abuse of a dominant position?
Which article of the TFEU addresses the abuse of a dominant position?
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What is a significant concern of market integration within the E.U. regarding SMEs?
What is a significant concern of market integration within the E.U. regarding SMEs?
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What is a characteristic of a market operating under perfect competition?
What is a characteristic of a market operating under perfect competition?
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Which of the following describes a monopolistic market?
Which of the following describes a monopolistic market?
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Why is competition considered essential in economic theory?
Why is competition considered essential in economic theory?
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What type of conduct by enterprises does competition law primarily seek to protect against?
What type of conduct by enterprises does competition law primarily seek to protect against?
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What does the concept of 'market power' refer to?
What does the concept of 'market power' refer to?
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What is a primary reason for the regulation of competition in markets?
What is a primary reason for the regulation of competition in markets?
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Which of the following best describes oligopolies?
Which of the following best describes oligopolies?
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What is an outcome of 'market failures' according to the content?
What is an outcome of 'market failures' according to the content?
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What does Council Regulation 1/2003 primarily address?
What does Council Regulation 1/2003 primarily address?
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Which regulation relates specifically to horizontal agreements in research and development?
Which regulation relates specifically to horizontal agreements in research and development?
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What is the primary focus of vertical agreements in the context of antitrust law?
What is the primary focus of vertical agreements in the context of antitrust law?
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What do the block exemption regulations NOT typically cover?
What do the block exemption regulations NOT typically cover?
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Which commission guidance focuses specifically on vertical restraints?
Which commission guidance focuses specifically on vertical restraints?
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Which of the following is true about the transitional regime mentioned in the content?
Which of the following is true about the transitional regime mentioned in the content?
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What is the purpose of Commission Regulation (EU) 2022/720?
What is the purpose of Commission Regulation (EU) 2022/720?
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Which article of the Treaty does Commission Regulation (EU) 2023/1067 implement concerning specialization agreements?
Which article of the Treaty does Commission Regulation (EU) 2023/1067 implement concerning specialization agreements?
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What is the expiration date of the Commission Regulation (EU) No 316/2014?
What is the expiration date of the Commission Regulation (EU) No 316/2014?
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Which directive focuses on unfair business-to-consumer commercial practices in the internal market?
Which directive focuses on unfair business-to-consumer commercial practices in the internal market?
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Which guidelines address the effect on trade concept within EU Antitrust Law?
Which guidelines address the effect on trade concept within EU Antitrust Law?
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What is the minimum aggregate market share required for the appreciation criterion under EU Antitrust Law?
What is the minimum aggregate market share required for the appreciation criterion under EU Antitrust Law?
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Which directive addresses misleading and comparative advertising in both B2B and B2C contexts?
Which directive addresses misleading and comparative advertising in both B2B and B2C contexts?
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Who can apply EU Antitrust Law?
Who can apply EU Antitrust Law?
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What is the focus of Directive 2019/633?
What is the focus of Directive 2019/633?
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What must agreements or practices in EU Antitrust Law potentially influence to be considered under Article 81 and 82?
What must agreements or practices in EU Antitrust Law potentially influence to be considered under Article 81 and 82?
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What is one of the decisions that the European Commission can make in relation to EU Competition Law?
What is one of the decisions that the European Commission can make in relation to EU Competition Law?
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Which of the following is NOT a power of the European Commission in the enforcement of EU Competition Law?
Which of the following is NOT a power of the European Commission in the enforcement of EU Competition Law?
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In the application of EU Competition Law by Member States, which Article states that national competition authorities must apply EU law?
In the application of EU Competition Law by Member States, which Article states that national competition authorities must apply EU law?
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Which of the following statements about the penalties under EU Competition Law is correct?
Which of the following statements about the penalties under EU Competition Law is correct?
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Which institution is responsible for the application of Spanish Antitrust Law?
Which institution is responsible for the application of Spanish Antitrust Law?
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What type of courts handles private enforcement cases under Spanish Antitrust Law?
What type of courts handles private enforcement cases under Spanish Antitrust Law?
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Which of the following aspects is NOT covered by Article 3.2 of Regulation 1/2003?
Which of the following aspects is NOT covered by Article 3.2 of Regulation 1/2003?
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What is the role of the European Court of Justice in relation to the European Commission's decisions?
What is the role of the European Court of Justice in relation to the European Commission's decisions?
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Study Notes
Lesson 1: Law & Competition
- Five key topics covered: Competition as an economic system, Competition Law fields, Spanish constitutional framework, Competition in the European Union, Competition Law enforcement
1. Competition as an Economic System
- Market Economy: Prices determined by supply and demand (invisible hand of Adam Smith). Perfect competition assumes many buyers and sellers, identical products, and symmetrical information.
- Real Markets vs. Models: Real markets often deviate from perfect competition models due to monopolies, monopsonies, differentiated products, and information asymmetry. These deviations lead to "market failures" and various degrees of competition.
- Types of Competition: Perfect competition, monopolistic competition (imperfect/workable), oligopolies, and monopolies.
- Regulation: Why competition needs regulation: Competition is key to market function. Advantages include low prices, allocative efficiency (best use of resources), and innovation incentives. Public interest drives Competition Law.
- Protection for Competition: Businesses with market power tend to avoid competition, so competition needs protection. Problematic conduct types include elimination/restriction of competition, and conduct reflecting an incorrect/unfair competitive standard.
2. Competition Law Fields
- Two Fields: Unfair Competition Law and Antitrust Law.
- Unfair Competition Law: Deals with competitive conduct lacking a correctness standard, aimed at harmonizing economic competition through directives. In Spain, governed by Ley 3/1991, de Competencia desleal (as modified by Ley 29/2009).
- Antitrust Law: Focuses on anticompetitive conduct by enterprises. EU law (Treaty on the Functioning of the European Union (TFEU) & Merger regulation) is enforced in Spain by Ley 15/2007 de Defensa de la competencia.
3. Spanish Constitutional Framework
- Market Economy: Article 38 of the Spanish Constitution defines the country's economic system as a market economy. Competition is a core principle in this framework.
- Freedom of Enterprise: Article 38 also establishes "freedom of enterprise," Crucial for free competition and protected by the Constitution.
- Two Important Aspects: Competition Law—the institution necessary for market economy functioning, and the right to free competition—based on the freedom of enterprise. Both rights are recognized by the constitution for all citizens.
- Specific Rules: Based on this framework, several specific rules were enacted by Spanish law, including details about collusion, abuse of dominant position, unfair acts related to antitrust, merger control, and state aids.
4. Competition in the European Union
- EU Antitrust Law (Aims): Protecting the competitive process, not just competitors, and allowing for competitive harm that isn't unfair.
- Market Integration: The main objective of the EC Treaty was creating a single market. This integration necessitates opening up national markets to foreign participation allowing for equal competition (with no national protection). Small and medium-sized enterprises (SMEs) are protected due to their crucial employment role.
- Basic Rules: EU antitrust law includes rules on collusion (Article 101 TFEU), abuse of dominant positions (Article 102 TFEU), merger control (Regulation 139/2004), and state aids (Articles 107-109 TFEU).
- Other Rules: Additional rules encompass vertical agreements, horizontal agreements, licensing, and specific sector legislation (e.g., motor vehicles, agriculture, etc.). Specific regulations exist for the application of Articles 101 and 102 of the Treaty (vertical vs. horizontal agreements). Technology transfer agreements are also regulated.
5. Competition Law Enforcement
- EU Antitrust Law Enforcement: The European Commission and Member States enforce EU antitrust law. This involves deciding on infringements, ordering interim measures, ruling on the applicability of Articles 101 and 102, examining industry sectors, and assigning penalties (e.g., fines, periodic penalty payments)
- EU Enforcement (Member States): National competition authorities and courts also enforce competition law, applying EU law when relevant. Cooperation between the EU Commission and national courts and authorities is crucial.
- Enforcement in Spain: Spanish law (Ley 15/2007) and other Spanish unfair competition-related enforcement details. Private actions and enforcement exist in Spain, as it relates to damages from antitrust law breaches. The Spanish Antitrust Authority, CNMC, plays an essential role, with several court-level decision branches available (particularly the Audiencias Provinciales & the Tribunal Supremo). Aspects of competition law enforcement are also detailed by other specific statutes.
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Description
This quiz covers the foundational concepts of competition as an economic system, providing insights into various competition models and the need for regulation. Explore key elements such as the Spanish constitutional framework and the enforcement of competition law within the European Union.
