The Competition Act, 2002, was enacted with the primary objective of promoting competition in the market, regulating monopolies and cartels, and protecting consumer rights.

Vertical agreements are not prohibited under the Competition Act, 2002, unless they lead to appreciable adverse effects on competition.

The Competition Commission of India (CCI) is responsible for investigating anti-competitive practices, adjudicating competition cases, and imposing penalties on violators.

The maximum penalty that can be imposed by the CCI for anti-competitive practices is 10% of the average turnover of the enterprise for the last three financial years.

Market share of the enterprise is not a factor considered by the CCI while determining the penalty for anti-competitive practices.

The Competition Act, 2002, provides for the establishment of a National Competition Policy, Competition Appellate Tribunal, and Competition Fund.

The Competition Appellate Tribunal (CAT) is responsible for hearing appeals against the orders of the CCI and granting interim relief in competition cases.

The Competition Fund is utilized for promoting competition advocacy and awareness, capacity building of the CCI and other stakeholders, and research and studies on competition law and policy.

Vertical agreements are not considered anti-competitive agreements unless they lead to appreciable adverse effects on competition.

The concept of 'relevant market' is important in competition law because it helps in defining the scope of the market in which competition is being assessed and determines the market share of different enterprises.

Market power of the enterprises is not a factor considered by the CCI while defining the relevant market.

The Competition Act, 2002, prohibits anti-competitive agreements and abuse of dominant position.

Abuse of dominant position occurs when an enterprise engages in predatory pricing or imposes unfair trading conditions.

Imposition of penalty is not a remedy that can be imposed by the CCI for abuse of dominant position.

The Competition Act, 2002, provides for the establishment of a National Competition Policy, Competition Appellate Tribunal, and Competition Fund.