What Did the Competition Act Do

question 63

Multiple Choice

What did the Competition Act do

• A)It overturned centuries-old views of English and Canadian judges on agreements among competitors.
• B)It had the effect of discouraging private lawsuits against conspiring oligopolists.
• C)It contains civil provisions but not criminal provisions.
• D)It prevented firms in oligopolistic industries from acting either individually or together in ways that make markets less competitive.

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Definitions:

Marketing Concept Era

A period marked by the shift towards adopting the marketing concept, focusing on identifying and meeting the needs and wants of customers as a route to achieving business goals.

Customer Relationship Era

A business approach focusing on building long-term relationships with customers to enhance loyalty and lifetime value.

Market Orientation

A business approach where the needs and wants of customers guide all marketing decisions and strategies.

Customer Value

Refers to the perceived worth of a product or service in the eyes of the customer, balancing its benefits against its cost.