This video will look at the idea of unfair trade practises. When an industry is monopolised, R has a low degree of competition, the outcome may not be in the consumers best interests. For example, prices may be artificially high, and output restricted. There may also be a lack of investment in up to date capital, and new product development. All of this arises out of the lack of competition, and thereby incentive to develop and innovate.
Unfair Trade Practices
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