Restrictive Trade Practices Quiz

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Questions and Answers

What was the purpose of the erstwhile Monopolies and Restrictive Trade Practices Act in India?

  • To regulate foreign trade practices
  • To support the dominance of a few firms
  • To prevent concentration of economic power (correct)
  • To encourage the growth of monopolies

What is the potential consequence of a firm attaining a monopoly or dominant position?

  • Enhancing product quality for consumers
  • Increasing competition in the market
  • Ensuring lower prices for consumers
  • Imposing higher prices on consumers (correct)

Which regulatory body replaced the Monopolies and Restrictive Trade Practices Act in India?

  • Monopoly Control Authority
  • Market Dominance Oversight Committee
  • Economic Power Regulation Board
  • Competition Commission of India (correct)

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