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The Comparative Law of Competition Law

Description: This quiz will test your knowledge on the Comparative Law of Competition Law.
Number of Questions: 15
Created by:
Tags: competition law comparative law antitrust law
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Which of the following is a primary goal of competition law?

  1. To promote economic efficiency

  2. To protect consumers from high prices

  3. To prevent the formation of monopolies

  4. All of the above

Show answer
Correct Option: D
Explanation:

Competition law has multiple goals, including promoting economic efficiency, protecting consumers from high prices, and preventing the formation of monopolies.

What is the difference between a cartel and a monopoly?

  1. A cartel is a group of companies that agree to fix prices, while a monopoly is a single company that controls a majority of the market share.

  2. A cartel is a group of companies that agree to divide up the market, while a monopoly is a single company that controls a majority of the market share.

  3. A cartel is a group of companies that agree to fix prices or divide up the market, while a monopoly is a single company that controls a majority of the market share.

  4. None of the above

Show answer
Correct Option: C
Explanation:

A cartel is a group of companies that agree to fix prices or divide up the market, while a monopoly is a single company that controls a majority of the market share.

Which of the following is a common type of anti-competitive agreement?

  1. Price fixing

  2. Market division

  3. Bid rigging

  4. All of the above

Show answer
Correct Option: D
Explanation:

Common types of anti-competitive agreements include price fixing, market division, and bid rigging.

What is the purpose of a merger review?

  1. To ensure that mergers do not create or strengthen monopolies

  2. To protect consumers from high prices

  3. To promote economic efficiency

  4. All of the above

Show answer
Correct Option: D
Explanation:

The purpose of a merger review is to ensure that mergers do not create or strengthen monopolies, protect consumers from high prices, and promote economic efficiency.

Which of the following is a common type of abuse of dominance?

  1. Predatory pricing

  2. Tying

  3. Exclusive dealing

  4. All of the above

Show answer
Correct Option: D
Explanation:

Common types of abuse of dominance include predatory pricing, tying, and exclusive dealing.

What is the difference between a horizontal merger and a vertical merger?

  1. A horizontal merger is a merger between two companies that compete in the same market, while a vertical merger is a merger between two companies that operate at different levels of the supply chain.

  2. A horizontal merger is a merger between two companies that operate at different levels of the supply chain, while a vertical merger is a merger between two companies that compete in the same market.

  3. A horizontal merger is a merger between two companies that are not related to each other, while a vertical merger is a merger between two companies that are related to each other.

  4. None of the above

Show answer
Correct Option: A
Explanation:

A horizontal merger is a merger between two companies that compete in the same market, while a vertical merger is a merger between two companies that operate at different levels of the supply chain.

Which of the following is a common type of exemption to competition law?

  1. The rule of reason

  2. The per se rule

  3. The market power rule

  4. None of the above

Show answer
Correct Option: A
Explanation:

The rule of reason is a common type of exemption to competition law that allows courts to consider the specific facts and circumstances of a case to determine whether an anti-competitive agreement or conduct is actually harmful to competition.

What is the purpose of a leniency program?

  1. To encourage companies to report anti-competitive conduct

  2. To reduce the penalties for companies that engage in anti-competitive conduct

  3. To both encourage companies to report anti-competitive conduct and reduce the penalties for companies that engage in anti-competitive conduct

  4. None of the above

Show answer
Correct Option: C
Explanation:

The purpose of a leniency program is to both encourage companies to report anti-competitive conduct and reduce the penalties for companies that engage in anti-competitive conduct.

Which of the following is a common type of private enforcement action in competition law?

  1. Antitrust lawsuits

  2. Consumer class actions

  3. Both antitrust lawsuits and consumer class actions

  4. None of the above

Show answer
Correct Option: C
Explanation:

Common types of private enforcement actions in competition law include antitrust lawsuits and consumer class actions.

What is the difference between a criminal cartel and a civil cartel?

  1. A criminal cartel is a cartel that is punished by criminal penalties, while a civil cartel is a cartel that is punished by civil penalties.

  2. A criminal cartel is a cartel that is formed by companies that are in the same industry, while a civil cartel is a cartel that is formed by companies that are in different industries.

  3. A criminal cartel is a cartel that is formed by companies that are located in the same country, while a civil cartel is a cartel that is formed by companies that are located in different countries.

  4. None of the above

Show answer
Correct Option: A
Explanation:

A criminal cartel is a cartel that is punished by criminal penalties, while a civil cartel is a cartel that is punished by civil penalties.

Which of the following is a common type of international cooperation in competition law?

  1. Bilateral agreements

  2. Multilateral agreements

  3. Both bilateral agreements and multilateral agreements

  4. None of the above

Show answer
Correct Option: C
Explanation:

Common types of international cooperation in competition law include bilateral agreements and multilateral agreements.

What is the purpose of a competition authority?

  1. To enforce competition law

  2. To promote competition

  3. To both enforce competition law and promote competition

  4. None of the above

Show answer
Correct Option: C
Explanation:

The purpose of a competition authority is to both enforce competition law and promote competition.

Which of the following is a common type of competition law remedy?

  1. Divestiture

  2. Fines

  3. Injunctions

  4. All of the above

Show answer
Correct Option: D
Explanation:

Common types of competition law remedies include divestiture, fines, and injunctions.

What is the difference between a market definition and a relevant market?

  1. A market definition is a broader concept than a relevant market.

  2. A relevant market is a broader concept than a market definition.

  3. A market definition and a relevant market are the same thing.

  4. None of the above

Show answer
Correct Option: A
Explanation:

A market definition is a broader concept than a relevant market. A market definition includes all of the products or services that are considered to be substitutes for each other, while a relevant market is a subset of a market definition that includes only the products or services that are actually competing with each other.

Which of the following is a common type of competition law defense?

  1. The efficiency defense

  2. The consumer welfare defense

  3. The market power defense

  4. None of the above

Show answer
Correct Option: A
Explanation:

The efficiency defense is a common type of competition law defense that allows companies to argue that their anti-competitive conduct is actually pro-competitive because it results in lower prices, higher quality products, or other benefits for consumers.

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