Competition Authority

A Competition Authority is a government agency responsible for promoting fair competition in the market. Its main job is to ensure that businesses operate fairly and do not engage in practices like price-fixing, monopolies, or unfair business tactics that could harm consumers or stifle innovation. By enforcing competition laws, the authority helps maintain a level playing field for all companies, encouraging healthy competition that benefits consumers through better prices, quality, and choice. Essentially, it acts as a referee to ensure businesses compete fairly rather than unfairly exploiting their market power.