MONOPOLIES COMMISSION Meaning and
Definition
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The term "monopolies commission" refers to an independent regulatory body or agency that is tasked with overseeing and regulating monopolistic practices in a particular sector or industry within a country. With the primary goal of protecting and promoting fair competition, a monopolies commission ensures that monopolies or dominant firms do not abuse their market power to the detriment of consumers and smaller competitors.
A monopolies commission acts as a watchdog, monitoring market conditions, investigating anti-competitive behavior, and taking necessary action to prevent or mitigate the harmful effects of monopolies. This body typically has the authority to conduct inquiries and investigations into the conduct and operations of dominant firms, as well as to enforce laws related to competition and consumer protection.
The key functions of a monopolies commission can include assessing market concentration levels, scrutinizing mergers and acquisitions, conducting market studies, issuing guidelines and codes of conduct for businesses, and imposing penalties or corrective measures for anti-competitive practices. Additionally, they may also propose policy recommendations to government bodies and contribute to the formulation of competition laws and regulations.
The establishment of a monopolies commission is driven by the aim of promoting market efficiency, innovation, and consumer welfare. By ensuring a level playing field and preventing the abuse of market power, a monopolies commission aims to foster healthy competition, encourage innovation and investment, and improve consumer choice and affordability within a specific industry or sector.
Common Misspellings for MONOPOLIES COMMISSION
- nonopolies commission
- konopolies commission
- jonopolies commission
- minopolies commission
- mknopolies commission
- mlnopolies commission
- mpnopolies commission
- m0nopolies commission
- m9nopolies commission
- mobopolies commission
- momopolies commission
- mojopolies commission
- mohopolies commission
- monipolies commission
- monkpolies commission
- monlpolies commission
- monppolies commission
- mon0polies commission
- mon9polies commission
- monooolies commission
Etymology of MONOPOLIES COMMISSION
The word "monopolies commission" consists of two parts: "monopolies" and "commission".
The term "monopolies" originates from the Latin word "monopolium", which comes from the Greek words "monos" meaning "alone" or "single" and "polein" meaning "to sell". Combined, they form "monopolium", which refers to exclusive control or ownership of a trade or industry by a single entity, leaving no room for competition.
The term "commission" comes from the Latin word "commissio", which is derived from "committere", meaning "to entrust". It evolved through French and Middle English before becoming part of the English language, referring to a group of people appointed or authorized to perform a specific duty or task.
