Competition Law Terminology

what you have to give up to buy what you want in terms of other goods or services

the difference in production and consumption of any given product or service including government tax

When firms directly communicate with each other for coordinating their actions to raise profits above competitive levels

the distortion caused by the successive markups of independent firms in a distribution channel

Mergers of companies that do business in different sectors or markets that have nothing to do with each other

the practice of charging higher prices to one type of consumers to artificially lower prices for another group

when companies package several of their products or services together as a single combined unit

the price of the product fixed after deliberations and negotiations by the oligopolistic firms to avoid a price war

agreements between firms at different levels of a supply chain

an act of nonviolent, voluntary abstention from a product, person, organization, or country as an expression of protest

the bargaining position of a buyer with respect to its supplier(s) of goods or services

a situation where two companies together own all, or nearly all, of the market for a given product or service

A reduction of fines or other penalties to companies as they cooperate during the authorities' investigation

a company joins the structure of another company and all its assets are transferred to the acquiring company

the power of undertakings in a particular market to decide economic parameters like price/supply/production/distribution

a business arrangement in which two or more parties agree to pool their resources in order to accomplish a specific task

meaning that a business's unit cost to produce a product will decline as the variety of its products increases