What does "relevant product market" refer to

Solution

Section 2 Definitions: (t) "relevant product market" means a market comprising of all those products or services -- (i) which are regarded as inter - changeable or substitutable by the consumer, by reason of characteristics of the products or services, their prices and intended use; or (ii) the production or supply of, which are regarded as interchangeable or substitutable by the supplier, by reason of the ease of switching production between such products and services and marketing them in the short term without incurring significant additional costs or risks in response to small and permanent changes in relative prices.