MERCANTILE CHAPTER 5
Mastering Mercantile Competition Law
Test your knowledge with our engaging quiz on Mercantile Competition Law! Whether you're a student, teacher, or simply interested in this field, this quiz will provide valuable insights into the competition act and related concepts.
Challenge yourself with questions covering:
- Types of substantial acts in competition law
- Forbidden agreements and their implications
- Abuse of dominant market position
- Unfair competition practices
The competition act of the fight against practices restrictive of competition and the control of economic concentration, points out the following types of substantial acts for its policy
The system is applicable to conduct restrictive of competition, or forbidden practices
Principles of concentration control or merger control
The system for monitoring and proposal in matters of public aid, or state aid
All of the above
The “forbidden agreements” laid down in competition law allude:
Only to formal agreements that produce the effect of prevention, restriction or distortion of competition in all or part of the national market
Only to collective agreements that produce the effect of prevention, restriction, or distortion of competition in all or part of the national market
Only in special concerted or consciously parallel practices that produce the effect of prevention, restriction, or distortion of competition in all or part of the national market
To agreements, collective decisions, or recommendations, or concerted or consciously parallel practices that produce the effect of prevention, restriction, or distortion of competition in all or part of the national market
Forbidden agreements that are not sanctionable are only:
Believed to have favorable effects for the consumer and produce improvements in terms of production, distribution, or marketing or promoting technological progress
Seen as having no positive effects to counteract the harmful effects produced from the perspective of competition
Testing the prohibition though a self-evaluation system
None of the above
Other
Please Specify:
The law prohibits “abuse of a dominant position” and the competition authority shall assess whether the undertaking concerned is dominant or not defining the relevant market:
Defining the relevant market means determining the scope of the competition rules in respect of restrictive practices and abuses of a dominant position, which are capable of constraining the behavior of the firms in question, and assessing the degree of real competition on the determinate market
Assessing the relevant product market composed of all products/services which the consumer considers to be a substitute for each other due to their characteristics, their prices and their intend use
Assessing the relevant geographic market related to an area in which the conditions of competition for a given product are homogenous
All of the above
Examples of behavior that may amount to an abuse of dominant position include:
Requiring that buyers purchase all units of a particular product only from the dominant company (exclusive product)
Setting prices at a loss-making level (predation)
Refusing to supply input indispensable for competition in an ancillary market or changing excessive prices
All of the above
The authority in charge of both competition and regulatory matters is
CNMC
EIOPA
ESMA
EBA
When is an unfair practice deemed to arise?
Unfair competition law describes a general principle of conduct objectively contrary to good faith that is deemed to be unfair
Unfair competition law enumerates a list of several conducts that, in particular, exemplify acts that are deemed unfair commercial practices, and those aimed at companies and professionals will be analyses under standards that differ from those intended for consumers
Regarding the relationship between entrepreneur and professionals to the consumer, any action must be declared as unfair practice if it meets two conditions: it has to be contrary to “professional diligence”, and acts are capable of distorting the economic behavior of the consumer
All of the above
Acts of competitive disloyalty are:
Acts of unfair competition prohibed by competition law, as they affect the public interest through the distortion of free competition by unfair acts
Conduct objectively contrary to good faith
The consumers decision to select an offer, sign a contract for or retain a product or service pay a price or exercise his contractual rights
Practice which could significantly distort the economic behavior of the average consumer
Which action that can be brought to forestall the practice that may be taken against acts of unfair competition before it occurs
Cessation of injunction
Action to rectify misleading, incorrect, or false information
Action to compensate damages
Action against unjust enrichment
Industry of conduct:
If broken, could be considered as “unfair competition”
If broken, have no consequences in terms of “unfair competition”
Impose subscription by business
Are mandatory due to the rules that help enhance consumer and user protection
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