Distinguish between the following: Relevant Geographic Market and Relevant Product Market.
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2021
Distinguish between the following: Relevant Geographic Market and Relevant Product Market.
Answer & Explanation:
According to section 2(s) of the Competition Commission Act, 2002, 'Relevant Geographic Market' means a market comprising the area in which the conditions of competition for supply of goods or provision of services or demand of goods or services are distinctly homogenous and can be distinguished from the conditions prevailing in the neighbouring areas; According to section 2(t) of the Competition Commission Act, 2002, 'Relevant Product Market' means a market comprising all those products or services which are regarded as interchangeable or substitutable by the consumer, by reason of characteristics of the products or services, their prices and intended use.
Topics: Competition Act, 2002
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