Briefly discuss any two objectives of the Competition Act.

1. Promoting competition: One of the main objectives of the Competition Act is to promote and maintain fair competition in the market. This is done by preventing anti-competitive practices such as price-fixing, bid-rigging, and abuse of dominant market position. By promoting competition, the Act aims to ensure that consumers have access to a variety of choices and that businesses are incentivized to innovate and improve their products and services.

2. Protecting consumers: Another key objective of the Competition Act is to protect consumers from unfair business practices that may harm their interests. This includes preventing misleading advertising, deceptive pricing, and other practices that may mislead or exploit consumers. By ensuring that businesses compete fairly and transparently, the Act aims to safeguard consumer welfare and promote a level playing field in the market.

1. Prevent Anti-Competitive Practices:

- Aims to outlaw practices such as cartels, bid-rigging, and exclusive dealing that restrain trade and create unfair advantages for specific businesses.
- Protects consumers and businesses from harmful effects of anti-competitive behavior, such as higher prices, reduced choice, and stifled innovation.

2. Promote Economic Efficiency and Innovation:

- Encourages competition by preventing dominant companies from abusing their market power.
- Creates a level playing field for businesses, allowing new entrants and smaller competitors to challenge larger enterprises.
- Stimulates economic growth by fostering healthy competition, leading to improved quality, increased productivity, and increased consumer choice.