Question
Consider the following statements regarding market
definition under the Competition Act: Statement 1: Market definition is relevant only for assessing abuse of dominance. Statement 2: Relevant market includes both geographic and product dimensions. Statement 3: Substitutability of products is a key factor in market definition. Statement 4: CCI must define market before assessing anti-competitive conduct. Which statements are correct?Solution
Market definition is relevant for both Section 3 and Section 4—Statement 1 is incorrect. Market has product and geographic dimensions—Statement 2 is correct. Substitutability is key criterion—Statement 3 is correct. CCI must define market for assessment—Statement 4 is correct. Statements 2, 3, and 4 are correct.
Which famous temple in Uttar Pradesh is dedicated to Lord Rama and is believed to be his birthplace?
Consider the following pairs (Types of markets and Features):
Single Buyer – Oligopoly
Homogeneous Goods – Perfect Competition
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