Under the Competition Act, Which of the Following Statements Is

question 46

Multiple Choice

Under the Competition Act, which of the following statements is completely TRUE?

• A)Criminal offences include bid-rigging and market restriction.
• B)Most criminal offences can also be classified as dual matters.
• C)Civilly reviewable matters include refusals to deal and exclusive dealing.
• D)Criminal offences include price maintenance and bid-rigging.
• E)Misleading advertising can be either a criminal matter or a hybrid matter, depending upon the circumstances.

Comprehend the role of prices in reflecting costs and signaling changes in market equilibrium.

Understand the concept of equilibrium in different markets and the factors that lead to changes in equilibrium conditions.

Analyze the impact of consumer preferences on market equilibrium in terms of price and quantity.

Recognize the role of capital flow in markets and its impact on industry profitability and equilibrium.

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Definitions:

Attributes

Characteristics or qualities that are inherent in or ascribed to someone or something, defining aspects of their identity or nature.

Fundamental Attribution Error

The tendency to attribute behaviors to a person’s internal qualities while underestimating situational influences.

Unemployed

The state of being without a paid job but available to work.

Illusory Correlation

A cognitive bias where a relationship is perceived between two variables even when no such relationship exists.