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Questions and Answers
What is the maximum fine a business could be fined for breaching competition law?
What is the maximum fine a business could be fined for breaching competition law?
- 10% of its annual turnover (correct)
- 20% of its annual turnover
- 5% of its annual turnover
- 15% of its annual turnover
What could be the consequence of forming a cartel?
What could be the consequence of forming a cartel?
- Criminal prosecution (correct)
- Fines up to 10% of its annual turnover
- Imprisonment for up to 5 years
- Disqualification from being a director of a company
What is the safest way to avoid conversations on pricing, strategy & customers with a rival firm?
What is the safest way to avoid conversations on pricing, strategy & customers with a rival firm?
- Negotiate a new contract
- Have a chat about prices
- Avoid talking business with rivals (correct)
- Form a cartel
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