What is the work of the competition commision?

Question

on the monopoly position on supermarkets

Answer 1

The work of the competition commision is to improve the economic efficiency of firms, thereby allowing consumers to enjoy lower prices, increased choice and improved product quality. It does this by ensuring a culture of healthy competition.

WHY IS COMPETITION IMPORTANT FOR CONSUMERS?
Competition is a process whereby firms compete against each other to secure customers for their products and services. This rivalry manifests itself through differences in prices, product quality and product development.
Competition experts believe that competition between firms results in two important consumer benefits: lower prices for consumer goods and greater product choice. Competition makes businesses sell their products and services at the best possible prices. It also stimulates product innovation and product quality.
Competition can benefit consumers by:
• Improving the quality of goods and services provided by firms;
• Encouraging firms to respond better to consumer needs by being innovative;
• Stimulating consumer research and development;
• Creating an environment in which firms charge prices, for goods and services, that bear a relation to the economic value of the goods or services being sold; and
• Ensuring the accessibility of goods and services.
History has shown that firms not committed to providing good customer service are always at the risk of losing consumer support.

Answer 2

Your question makes no sense.