Why is market competition important to Filipino consumers?

Market competition exists when there are multiple buyers and sellers, and no single entity controls the price of goods or services. As such, businesses are more attuned to consumer demand and have to innovate to make their products different and better than the rest.

When businesses compete, consumers benefit through lower prices, more product choices, and better-quality goods and services.


How does the government promote and protect market competition?

Republic Act No. 10667 or the Philippine Competition Act (PCA) is the primary law of the Philippines prescribing a policy for promoting and protecting fair market competition.

The PCA prohibits entering into anti-competitive agreements (e.g., price fixing, bid-rigging), abusing a dominant market position, and mergers and acquisitions (M&As) that substantially lessen market competition.


Which government agency is in charge of ensuring fair market competition in the Philippines?

The Philippine Competition Commission (PCC) is the agency mandated by the PCA to promote fair competition among companies across various industries to safeguard the welfare of both businesses and consumers in the country.

It is an independent, quasi-judicial body with original and primary jurisdiction over issues relating to competition.


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