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Gillespie: Foundations of Economics 2e

Unit 11

Competition policy
Although perfect competition does not exist governments do intervene to make encourage competition and protect consumers.

In the UK the organizations that exist to encourage competition include:

The Office of Fair Trading
"The OFT is responsible for making markets work well for consumers. We do this by promoting and protecting consumer interests throughout the UK whils ensuring that businesses are fair and competitive" This site has information on a range of issues such as consumer rights and competition legislation.
www.oft.gov.uk

Competition Commission
If you would like to read more about the role of the Competition Commission and find out about some of the cases investigated by the Competition Commission you can visit
www.competition-commission.org.uk/

Tutorial
For materials from the Open University on perfect competition see
www.economicsnetwork.ac.uk/archive/ou/tutorial6/tutorial06.htm

For more on perfect competition visit our visual walkthrough on this topic.