There Were Three Important Changes to the Law Introduced by the Competition

question 22

Multiple Choice

There were three important changes to the law introduced by the Competition Policy Reform Act 1995 (Cth) .Which of the following is not one of them?

• A)It extended the scope of the Trade Practices Act 1974 (Cth) to all Australian businesses and professions.
• B)It merged the Trade Practices Commission and the Prices Surveillance Authority to form the Australian Competition and Consumer Commission.
• C)It established an access regime to allow third parties access to essential facilities.
• D)It set up the office of the Consumer Ombudsman.

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Definitions:

Product Life Cycle

The progression of a product through different stages from introduction to growth, maturity, and decline.

Profit Margins

Ratios or percentages that reveal the profitability of a company by comparing its net income to its sales.

Product Life Cycle

The stages a product goes through from development and introduction to the market, through growth and maturity, and eventually its decline.

Brand Elements

Characteristics that identify the sponsor of a specific ad.